You can make corrections to already posted VAT entries and change the total sales or purchase VAT amounts without changing the VAT base. You may need to do this, for example, if you receive an invoice from a vendor that has calculated VAT incorrectly.
Even though you may have set up one or more combinations to handle import VAT, you must set up at least one VAT product posting group code. For example, you can name it CORRECT for correction purposes, unless you can use the same general ledger account in the Purchase VAT Account field on the VAT posting setup line.
For more information, see How to: Set Up Codes for Import VAT.
To correct VAT
In the Search box, enter General Journal, and then choose the related link.
In the General Journal window, fill in a journal line for the correction. Enter the corrective amount in the Amount field. Note that the VAT Base Amount field remains 0.00.
Note You cannot enter anything in the field. The base amount fields are not included in the standard layout, but they can be inserted by the system administrator. On the Home tab, choose Post to post the journal.
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For more information about how to work with fields and columns, see Work with Data. For more information about how to find specific pages, see Search. |