Not featuring VAT tax credit calculation balance and specific ledger setup posting, from within the accrual tax vendor authority calculation for the period, user might not be efficiently saving time from tax calculation and from supporting tax calculation documents.
Comments
REMARK: VAT tax credit balance calculation is a result when VAT tax supported is greater then the VAT tax payable: Example:
VAT tax payable (liability): -100,
VAT tax supported (receivable): 103
VAT tax credit: 3 (receivable)
Oops the sign.
Category: Tax
REMARK: VAT tax credit balance calculation is a result when VAT tax supported is greater then the VAT tax payable: Example:
VAT tax payable (liability): -100,
VAT tax supported (receivable): -103
VAT tax credit: 3 (receivable)
Category: Tax
REMARK: Example Mexico localization.
Category: Tax