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Hi,
When I adjust the currency exchange rates at the end of the month, the revaluation is adding in Vat. This is impacting my Vat Declaration of Sales and purchases and also causing an imbalance on the Debtor and Creditor ledger to the reports. How do I turn do I make sure that the system doesn't automatically include vat on currency adjustments.
Thanks
Candice
Hi Candice,
Please check the gen. posting type and the posting groups (Gen. & VAT) on the G/L Account for the currency adjustments (gains / losses).
These should be blank.
If the issue perists ... please log a service request at Microsoft.
If you are from a partner you can do this yourself.
If you are from a customer please contact a partner and he will report this issue for you.
Thanks
Hi Josh,
Thank you for your reponse.
I have been to the GL Setup the only place the Vat Exchange Rate adjustment appears is under GL setup - reporting. This is set to no adjustment previously and is posting incorrectly.
| Posting Date | Document No. | Document Type | Base | Amount | VAT Calculation Type | Type | Bill-to/Pay-to No. | External Document No. | Entry No. |
| 30/04/2020 | REVALUE_300420 | 47.21 | 9.44 | Normal VAT | Sale | 5461 | |||
| 30/04/2020 | REVALUE_300420 | -208.51 | -41.7 | Normal VAT | Purchase | 5462 | |||
| 30/04/2020 | REVALUE_300420 | 161.3 | 32.26 | Normal VAT | Purchase | 5463 | |||
| 30/04/2020 | REVALUE_300420 | -1,270.16 | -254.03 | Normal VAT | Sale | 5464 | |||
| 30/04/2020 | REVALUE_300420 | 271.35 | 54.27 | Normal VAT | Purchase | 5465 | |||
| 30/04/2020 | REVALUE_300420 | 998.81 | 199.76 | Normal VAT | Purchase | 5466 |
Looks to be a setup issue upon review of the report code.
GLSetup."VAT Exchange Rate Adjustment" = GLSetup."VAT Exchange Rate Adjustment"::"No Adjustment")
then
CurrReport.Break;
Go to the general ledger setup and ensure you have the field "VAT Exchange Rate Ajustment" as "No Adjustment"
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YUN ZHU
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Mansi Soni
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Sagar Dangar, MCP
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