Creating VAT Transactions Using Automatic Reconciliation
This topic discusses creating VAT using PeopleSoft Automatic Reconciliation.
|
Page Name |
Definition Name |
Usage |
|---|---|---|
|
Automatic Reconciliation Exceptions Page |
BNK_RCN_VUE_UNR |
Force an automatic reconciliation to process VAT-applicable transactions. See Forcing the Reconciliation of VAT-Applicable Transactions and the Automatic Reconciliation Exceptions Page. |
The system creates VAT automatically when you force reconcile a fee or interest through reconciliation, if the accounting template has a VAT applicable line. The force reconciliation function inserts transactions into the Bank Reconciliation Transaction table (BNK_RCN_TRAN) and the VAT record (TRV_VAT_TRAN). It also generates a Treasury accounting event. For VAT fees to be reconciled on the bank side and system side, you must select a statement activity type for the bank statement processing template.
Note: For VAT applicable fees to display on the Automatic Reconciliation Exceptions page, you must first process the transactions using the Automatic Reconciliation Manager page.
Use the Automatic Reconciliation Exceptions page (BNK_RCN_VUE_UNR) to force an automatic reconciliation to process VAT-applicable transactions.
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Note: For VAT applicable fees to be created and reconciled on the Automatic Reconciliation Exception page, the VAT Treatment must be Inclusive. Reconciliation does not occur if the system algorithm determines the VAT Treatment is Exclusive. To reconcile these types of fees, you must enter them on the External Transactions page, and then use the Semi Manual Reconciliation page to complete the reconciliation.