Printing Documents with VAT
This topic discusses how to print documents with VAT.
Note: The placement of VAT information messages varies only on SQR invoices. For BI Publisher invoices, they are always printed at the end of the invoice.
To specify the placement of VAT treatment messages, access the Invoice Formatting Options - VAT Treatment Msg page (Set Up Financials/Supply Chain, Product Related, Billing, Setup Invoice Options, Invoice Formatting Options, VAT Treatment Msg).
To specify the placement of line VAT information, access the Invoice Formatting Options - Discounts, Surcharges, Taxes page (Set Up Financials/Supply Chain, Product Related, Billing, Setup Invoice Options, Invoice Formatting Options - Discounts, Surcharges, Taxes).
PeopleSoft Billing uses the Amounts in Reporting Currency option that is specified for the VAT Entity Registration driver on the VAT Defaults Setup page to determine whether an invoice requires special printing of a VAT reporting currency.
If the option is selected, PeopleSoft Billing compares the reporting currency for the given reporting country on each invoice. If the currency on the invoice matches the reporting currency, no additional work is performed. However, if the reporting currency does not match the invoice's currency and the VAT treatment group is defined as domestic sales, the system prints an additional section on the invoice with amounts that are printed in the base currency. In most cases, the reporting currency that is defined on the VAT Entity - VAT Reports page matches the base currency of the Billing business unit. The system performs this check for each VAT invoice that is being printed.
Note: Customer VAT amount is not printed in VAT reporting currency.