AAIs for VAT Payables (PCVATP)

Use this AAI to determine the account for deferred VAT payables. If you do not set up this AAI, the general ledger post ignores the deferred VAT when both of these statements are true:

• The processing option for VAT with retainage is set.

• You use a tax type of C or V.

If you do not specify a company, the system uses the default company number (00000). You should set the default company account as the account most commonly used by companies on the system. Then you must set up distinct PCVATP AAIs only for companies with different accounts.

When you release retainage, this AAI reverses debits and credits with the PTVATD AAI.