Understanding Authenticated Receipts

To reclaim input VAT, you must obtain a signed receipt from the subcontractor that you pay that shows the VAT amount for a certificate. The authenticated receipt includes information about the amount paid and the cumulative amounts for the job. You print and send an authenticated receipt for each payment that you make to a subcontractor. The subcontractor signs and returns the authenticated receipt to you as an acknowledgement of VAT and of the payment received.

To work with authenticated receipts, you:

1. Print and send an authenticated receipt.

   Print the authenticated receipt after you process payments. Many companies send the authenticated receipt with the remittance. The JD Edwards EnterpriseOne software provides two programs to print authenticated receipts.

2. Log the return of the authenticated receipt.

   You log the return so that you can send a reminder if the authenticated receipt is not returned in a timely manner.

3. Print the authenticated receipt summary to generate a report of the outstanding authenticated receipts.

4. Send a reminder letter to subcontractors who do not return the authenticated receipt by the due date.

   See Setting Up the Late Authenticated Receipt Letter.

The JD Edwards EnterpriseOne system also provides these programs for authenticated receipt processing:

• Authenticated Receipt Print History (P74U0432).

  Use this program to review a history of the authenticated receipts for each certificate for a job.

• SPC Authenticated Receipt Retention Generation (R74U0426).

  The SPC cascade automatically runs this program to generate the journal entries for retention. You run this program independently only when you do not use the automated process.

  See Setting Processing Options for SPC Authenticated Receipt Retention Generation (R74U0426).