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Overview (VAT for On-Account Receipts)

Use the VAT for On-Account Receipts functionality to assign tax codes to on-account receipts. You can enter this data in the Tax Code field in the Receipts window. Use the VAT for On-Account Receipts report to review receipts and their assigned tax codes. You can query receipts using receipt date, amount, currency, and customer country.

Use this field to associate tax codes with on-account receipts. There are three general types of on-account receipts:

ger90000.gif Amount not applied to an existing invoice, for example, unposted QuickCash batches or receipt not yet applied to an invoice

ger90000.gif Deposits for future invoices with zero-rate VAT, for example,
non-domestic

ger90000.gif Deposits for domestic invoices in future periods

To calculate VAT at period end, identify on-account receipts for invoices in future periods and assign a tax code to them. The VAT for On-Account Receipts report calculates the VAT amount.

See VAT for On-Account Receipts Report for more information.

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