Adding VAT accounts

You can add or edit VAT accounts that are associated with a set of books.

  1. Select Manage > Corporate Data.
  2. Select Set of Books - VAT in the Data Type field.
  3. Specify this information:
    Name
    The name of the VAT account.
    Set of books
    The set of books from the list.
    Spending Location
    A spending location for the VAT account.
    Expense Account List
    The account list of the expense.
    Effective Date
    The date on which the expense account becomes effective.
    Until Date
    The expiry date of the expense account.
    Description
    The description of the VAT account.
    Script
    A JavaScript for the VAT amount or account segment. See Adding a JavaScript VAT calculator.
    Status
    The status of the VAT rate. The status can be Active or Inactive.
    GL Code Mapping
    The general ledger account used as the default to book the VAT account.
    VAT Account
    The VAT account.
    VAT Subaccount
    The general ledger sub account of the VAT/GST.
    Unclaimed VAT
    The general ledger account of the unclaimed VAT/GST.
    Unclaimed VAT
    The general ledger subaccount of the unclaimed VAT/GST.
    PST Account
    The general ledger account of the PST/QST.
    PST Subaccount
    The general ledger subaccount of the PST/QST.
    Unclaimed PST
    The general ledger account of the unclaimed PST/QST.
    Unclaimed PST
    The general ledger subaccount of the unclaimed PST/QST.
  4. Click Add to save the data.