Hi all, I am trying to set prepayments in BC. The issue I have is that the Prepayment Purchase Invoice is picking up the VAT Prod Posting group from the G/L account I've set on The Gen. Post Group. How do I set, and what needs to be done so that Vat Prod Posting Group on the Prepayment Invoice is the same as the one I chose on the Purchase Order lines?
PART 2
I have done some tests now , so it is clear.
Just to clarify, my country is localized in Finland, so unlike Australia, I don't get the option to change the VAT Prod Posting Group on the line.
So, retested and came with the following conclusions:
When your PO is for Items , when posting a Pre-payment Invoice , that get 's posted to the Prepayment G/L account I've set on the General Posting Setup. The VAT combination for this Pre-payment Purchase Invoice will be pulled from the VAT Business Posting Group( Vendor) and the VAT Product Posting group on the G/L Account ( the prepayment account ).
So, that doesn't allow much flexibility on the General post setup on a simple configuration.
As an example, for a combination of Domestic (Gen Business Posting Groups) purchase of Materials (Gen Prod. posting group) I buy products/material with various VAT procentage. The Prepayment account set for this combination is only one.
On the PO , regardless of the VAT Product posting group I specify or comes inherited from the G/L or Item on the lines, my Prepayment PI will pick the VAT Product posting group form the G/L I specified on my Prepayment Account on General Posting setup.
Therefore if your Prepayment G/L Account is set to Standard (20%) as an examples, regardless of what you set on the line, it will post to Standard (20%) always.
So you might need to have extra various Gen Product groups just for this reason.
