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Full VAT calculation in US localisation

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Posted on by Samantha73

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Hi All,

In UK you can set up FULL VAT for customs invoices or tax only invoices - 100% Tax. Couldn't figure out how to do this in the US as tax jurisdictions are used

Thanks

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MahGah 15,529 on at

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Hi

Can you review the below link and see if it helps?

www.boyerassoc.com/.../

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Samantha,

VAT is not normally setup in a US version as Sales Tax is setup based on Tax Area and Jurisdiction. However, in the General Ledger Setup you can check the VAT in Use box and setup VAT and related VAT Business, Product, and Tax Setup.

Thanks,

Steve

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Samantha73 3,255 on at

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Ok understand in US VAT is not used..The question is how to set up full tax or tax only lines in purchase documents in US?

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Samantha,

You need to setup all the VAT areas:

Set up VAT posting groups.

Assign VAT G/L accounts in the VAT posting setup.

Set up VAT clauses.

Specify VAT rates in the VAT posting setup.

Set up a VAT statement.

Set up unrealized VAT.

Here is a video guide: docs.microsoft.com/.../

Thanks,

Steve

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Samantha73 3,255 on at

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Thanks Steve..So from your answer, I get that even in US there is no native way of creating tax only lines without VAT. So I cannot have the tax only lines without invoking VAT. To me this is a gap in functionality as just to have few invoices we have to configure VAT in a localisation that doesn't use VAT or no need for anything else. I'm surprised no one else has come across this before or maybe one for the ideas forum

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Samantha,

I can tell you that I have implemented VAT for my US customers before and depending on the Customer I had VAT and Sales Tax running together and defined the Customer to fall into Sales Tax or VAT.

Thanks,

Steve

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