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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Reverse sales transact...
Finance | Project Operations, Human Resources, ...
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Reverse sales transaction to get the VAT posted as a reversal on the original account

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Hello

I have a question about reversals to sales transactions including VAT, no accounts receiveable is concerned here
 
Vat account 2610 is setup to be a VAT account in general ledger
Sales account 3010 is set to be a sales account
Balance account 1790 is a normal balance account. 
 
  1. Original postings goes to 
    1. Debet Balanc account 1790 SEK 1000
    2. Credit Sales account 3010 800
    3. Credit Sales Vat Account 2610
  2. Reversal posting seem to be
    1. Credit balance account 1790 SEK 1000
    2. Debet sales account 3010 800
    3. Debet Purchase Sales account 2640 200
       
  3. I want the posting to be in number 2
    1. Credit balance account 1790 SEK 1000
    2. Debet sales account 3010 SEK 800
    3. Debet Sales Vat Account 2610 SEK 200
       
Can the VAT codes be overridden in any way?
Can the solution be to use a kind of novat code for the item sales tax code for the reversal?
  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 291,240 Super User 2024 Season 2 on at
    Reverse sales transaction to get the VAT posted as a reversal on the original account
    Hi Eva,
     
    Can you tell how you created the transaction and the reversal? Is your question related to sales order, projects, free-text invoices or a posting via a journal?
  • Suggested answer
    Kevin Xia Profile Picture
    Kevin Xia Microsoft Employee on at
    Reverse sales transaction to get the VAT posted as a reversal on the original account
    Hi,

    You can consider the following approach:

    1. VAT Code Override: Explore the possibility of overriding the VAT codes for the reversal transaction. The system may allow users to manually adjust or override the VAT codes during transaction reversal.

    2. Novat Tax Code: You can consider using a "novat" tax code specifically designed for the reversal transactions. By applying this tax code, you can ensure that the VAT is correctly accounted for and reversed on the original account.

    3. Configuration Review: Review the system configuration and determine if there are any specific settings or customization options available to address the VAT posting requirements for transaction reversals.

    Best regards,
    Kevin

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