Entering Journal Entries with VAT

Access the Journal Entries with VAT form.

Use the Alternate Home Business Unit, Job Type, Job Step, Employee Pool Grouping Code, and Job Pool Group Code fields, which appear in the detail area of the Journal Entries with VAT form, to simulate transactions from other JD Edwards EnterpriseOne systems such as Time and Labor and Subcontract Management. For example, if you are using burdening, you can use these fields to enter a correcting journal entry for burdening transactions.

Taxable Amount

Enter a number that identifies the amount that the system will add to the account balance of the associated account number. Enter credits with a minus sign (-) either before or after the amount.

If you enter an amount in the Taxable Amount field, the system calculates the gross amount and the tax. If you enter an amount in the Gross Amount field, the system calculates the taxable amount and the tax.

Gross Amount

Enter the gross amount and the system calculates the taxable amount.

Tax

Enter the amount assessed and payable to tax authorities. It is the total of the VAT, use, and sales taxes (PST).

If you change the tax amount, the system validates the change against the Tax Rules.

Tx Ex (tax explanation)

Enter a user-defined code (00/EX) that controls how a tax is assessed and distributed to the general ledger revenue and expense accounts.

You must use a tax explanation code that begins with V (V, VT, or V+). No other tax explanation codes are valid.

Tax Area

Enter a code that identifies a tax or geographic area that has common tax rates and tax authorities. The system validates the code you enter against the F4008. The system uses the tax rate/area in conjunction with the tax explanation code and tax rules to calculate tax and GL distribution amounts when you create an invoice or voucher.

Track Taxes

Enter a value that specifies whether the system updates the F0911 table with tax information in order to track taxes for a general ledger account. Values are:

1: Update.

0: Do not update.

You must set up the account as taxable in the F0901 for the system to accept a value of 1 in this field.