Processing PeopleSoft Payables with GST

To enable GST see Installation Options - Overall Page

Use the Invoice Information page (VCHR_EXPRESS1) to enter or view invoice information, including invoice header information, non-merchandise charges, and voucher line and distribution information.

Navigation:

Accounts Payable > Vouchers > Add/Update > Regular Entry > Invoice Information

This example illustrates the fields and controls on the Invoice Information page for regular voucher style (1 of 2). You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Invoice Information page for regular voucher style (2 of 2). You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Invoice Information page for regular voucher style with Reverse Charge transaction (1 of 2). You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the invoice Information page for regular voucher style with Reverse Charge transaction (2 of 2). You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Invoice Information page for prepaid voucher style - Reverse Charge transaction (1 of 2). You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Invoice Information page for prepaid voucher style - Reverse Charge transaction (2 of 2). You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Invoice Information page. You can find definitions for the fields and controls later on this page.

The Copy Voucher functionality for third-party voucher is modified to copy the GST reverse charge lines from the related source voucher to settle the payments with the GST Authority.

The system uses the voucher ID and supplier ID to copy the GST reverse charge lines from the related source voucher, which are mandatory. All lines are selected by default and the user is not allowed to remove any lines at this point. When the Copy Selected Lines option is clicked the GST tax parameters are copied from the related voucher. While copying the related voucher back to the third-party voucher, if the copied transaction currency is equal to the transaction currency of the third-party voucher, then the merchandise amount is taken from the related voucher and the user is not allowed to make changes to the merchandise amount. On the other hand, if the copied transaction currency is not equal to the transaction currency of the third-party voucher, the amount is set to zero and the system displays a warning message. In such a case it is mandatory for the user to enter a value by manually calculating the merchandise amount on the basis of the transaction currency. Once the user enters all details and saves the page – and if a related voucher exists – the Global Tax Calculation engine calculates the taxes. If these values include any miscellaneous or freight charges, the system displays an error message indicating that these charges cannot be present when paying to the GST authority.

Users are allowed to process multiple vouchers to settle with a single payment. Also, a user can select and remove reverse charge lines after they are copied from a related voucher into a third-party voucher. In this case the system displays a warning message and the tax calculations are altered accordingly.

When creating a regular voucher that is sought to be set off against a prepaid voucher with Reverse Charge applicability, you should not select the Apply Automatically check box on the Attributes Tab of the Regular voucher. Instead, you manually select the relevant Prepaid Voucher after ensuring that both the prepaid voucher as well as the regular voucher have the same Supplier and Location. Also, the items on the regular voucher should be present on the prepaid voucher.

Use the GST Annexure Header page (VCHR_GST_ANEX_SEC) to enter or override GST annexure information.

Navigation:

Click the GST Annexure Header link on the Invoice Information page.

This example illustrates the fields and controls on the GST Annexure Header page. You can find definitions for the fields and controls later on this page.

Use the Goods and Service Tax (GST) Details page (VCHR_LINE_EXS) to enter or override GST information.

Navigation:

Click the Goods and Service Tax (GST) link on the Invoice Information page.

This link appears if GST is enabled in the setup hierarchy.

This example illustrates the fields and controls on the Goods and Service Tax (GST) Details page for a Regular Voucher. You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Goods and Service Tax (GST) Details page for a Regular Voucher - Reverse Charge Transaction. You can find definitions for the fields and controls later on this page.

This example illustrates the fields and controls on the Invoice Line Custom Duty Tax Detail page.

GST calculations are performed by the global common routine that is called during voucher online creation and the Voucher Build process. These calculations are based on the defaults defined if no changes are made to this page.

Use the Supplier Information - Location: Procurement Options page (VNDR_PROC_OPT_SEC) to define currency options for the supplier.

Navigation:

Suppliers > Supplier Information > Add/Update > Supplier > Supplier Information > Location . Click the Procurement link on the Supplier Information - Location page and expand the Additional Procurement Options section.

This example illustrates the fields and controls on the Supplier Information - Location: Procurement Options page. You can find definitions for the fields and controls later on this page.

Use the Voucher Accounting Entries page (VCHR_ACTG_ENTRIES) to review the results of the Voucher Posting Application Engine process (AP_PSTVCHR).

Navigation:

Accounts Payable > Review Accounts Payable Info > Vouchers > AP Accounting Entries > Voucher Accounting Entries . Click the Accounting Entries button on the Voucher Inquiry page.

The above example illustrates sample accounting entries for a prepaid voucher, where GST is calculated on reverse charge basis. GST recoverable will be debited to the relevant intermediate set off account. Non recoverable portion of GST if any will be added to the Merchandise/service prepaid account. Total GST on reverse charges on the voucher will be credited to the relevant GST liability account.

The above example illustrates sample accounting entries for a regular voucher, where GST is applicable on reverse charge basis. The GST payable is credited to the tax account of the relevant GST component liability and debited to the corresponding GST recoverable account. Total GST on reverse charges on the voucher will be credited to the relevant GST liability account.

The above example illustrates sample accounting entries for a regular voucher with non-reverse charges. GST recoverable if any is debited to a separate relevant account as appropriate. Non recoverable portion of GST if any will be included in the expense distribution line.

The above example illustrates sample accounting entries of a prepaid voucher with reverse charge accountability. The intermediate GST accounted for at the time of advance payment to the GST input credit account will be reversed to the respective final input credit accounts.

The above example illustrates sample accounting entries of a Posted third party voucher where reverse charge details have been copied from the related regular voucher. In this case, the GST liabilities are closed and transferred to Accounts Payable, which in turn is transferred to cash distribution account at the time of posting the payment of this third-party voucher.