Accounting Rules for VAT Account Entries

Account entries for VAT are created in a number of accounting events; see the tables for the respective module. Which account entries are created is based on the configuration of the VAT code used in 'VAT Code. Open' (CRS030).

In this table, XX represents the two-letter module prefix and 00 represents the number of the accounting event:

Accounting rules for VAT account entries


Rule	D/C	Name	Description
XX00-111	C	VAT payable 1	Used when the 'VAT reported on payment day' check box is left cleared for the VAT code in 'VAT Code. Open'(CRS030).
XX00-112	C	VAT payable 2	Used when the 'VAT reported on payment day' check box is left cleared in combination with VAT method 2 or 3 in (CRS030).
XX00-113	C	Suspense account for VAT payable 1	Used when the 'VAT reported on payment day' check box is selected in (CRS030).
XX00-114	C	Suspense account for VAT payable 2	Used when the 'VAT reported on payment day' is selected in combination with VAT method 2 or 3 in (CRS030).
XX00-211	D	VAT receivable 1	Used when the 'VAT reported on payment day' check box is left cleared in (CRS030). When used to record Canadian sales tax on purchases in 'Supplier Invoice. Record' (APS100) it represents the General Sales Tax (GST) or the Harmonized Sales Tax (HST). For details, see Canadian Sales Tax in M3.
XX00-212	D	VAT receivable 2	Used when the 'VAT reported on payment day' check box is selected in combination with VAT method 2 or 3 in (CRS030). When used to record Canadian sales tax on purchases in (APS100) it represents the Provincial Sales Tax (PST) or Quebec Sales Tax (QST). If the PST is self-assessed by the company, an offsetting PST credit transaction is created based on accounting rule AP10-217.
XX00-213	D	Suspense account for VAT receivable 1	Used when the 'VAT reported on payment day' check box is selected in (CRS030).
XX00-214	D	Suspense account for VAT receivable 2	Used when the 'VAT reported on payment day' check box is selected in combination with VAT method 2 or 3 in (CRS030).