Prerequisites

Before you process VAT transactions in PeopleSoft General Ledger:

After reviewing the material in the aforementioned reference, set up your VAT environment accordingly.

If you intend to create an allocation journal that includes VAT processing in the journal edit, deselect the ByPass Vat Processing check box on the Output Options page. The system then recognizes the VAT Account flag, calculates VAT, and generates additional VAT accounting lines where appropriate. Be careful when using this feature in a multilevel allocation because the system may generate accounting entries more than once for the same expense to recover VAT. To avoid this situation, deselect the Bypass VAT check box for only one step in a multilevel allocation.

Note: Refer to the individual product documentation for the subsystems that feed VAT transactions to the PeopleSoft General Ledger, for VAT information applicable to that application, and to access the setup information for the various applications.

PeopleSoft Commitment Control does not support VAT.