VAT Setup and Defaults for General Ledger

The VAT defaults are controlled by VAT drivers at various levels of the hierarchy, and they are stored in a common set of tables provided by default. Depending on the driver, you can set certain fields and override them in a lower level of the hierarchy.

Two main components control the VAT defaults: the VAT Defaults Setup component and the Services VAT Treatment Setup component. For PeopleSoft General Ledger, only the VAT Defaults Setup component is applicable. You can access this component from the common VAT menu (Set Up Financials/Supply Chain, and then Common Definition, and then VAT and Intrastat, and then Value Added Tax) or from the applicable general ledger pages. If you access it from the VAT menu, the driver you select determines the fields that appear. If you access it from the application pages, the component from which you are accessing determines the fields that appear. For example, if you access the VAT Defaults Setup page from the VAT and IntraStat Common Definitions menu, and you select the GL Business Units (BUS_UNIT_TBL_GL) driver, then you see the same fields as you do when you click the VAT Default link on the GL Business Unit Definition - VAT page.

These VAT user overrides are set:

• Service Type, Place of Supply Driver, or both—a change to either protects both.

• Reporting Country, Defaulting State, or both—a change to either protects both.

• Bank/Customer/supplier Registration Country.

• Calc on Advance Payments.

• Place of Supply Country, Place of Supply State, or both—a change to either, where applicable, protects both.

• Applicability.

User overrides are reset to blank when the user:

• Clicks Change Physical Nature.

• Clicks Reset All VAT Defaults.

• Leaves the component and comes back in again.

See PeopleSoft Global Options and Reports: Accessing the Service VAT Treatment Defaults Setup Page.

VAT Drivers, VAT Driver Keys, and the Defaulting Hierarchy for VAT Defaults

The following table lists the VAT drivers and associated VAT driver keys in the VAT default hierarchy sequence from most specific to least specific for the VAT Defaults component. No general ledger drivers apply to the Services VAT Treatment Defaults.

VAT Driver	VAT Driver Keys	PeopleSoft Application	Country	State	Applicable to Regular VAT Defaults	Applicable to Services VAT Treatment Defaults
Account ChartField	Account SetID Account	General Ledger	Optional	Optional	Yes	No
Journal Source	Source SetID Source	General Ledger	Optional	Optional	Yes	No
GL Business Unit	Business Unit	General Ledger	Optional	Optional	Yes	No
VAT Entity Registration	VAT Entity Country	All	Required	Optional	Yes	No
VAT Country	Country	All	Required (key)	Optional	Yes	No