VAT on Receipts/Payments (74/TX)

Set up UDCs to identify the tax rates codes that are applicable to VAT on receipts and VAT on payments. You can use these codes to associate different VAT rates with transactions that are subject to the VAT Deductible on Payment and VAT Collectable on Receipt regimes.

Important: You should define only the tax codes used for VAT on Receipts and Payments in the VAT on Receipts/Payments UDC table (74/TX), not the tax codes for the VAT on Debits regime. Defining codes for VAT on Debits in this UDC table results in unpredictable errors.