RECOVERABLE ACCOUNTS

Use this subtask to designate accounts and organizations for those taxes that are recoverable. Recoverable taxes are those that are refunded by the taxing authority (government) and are most often Value Added Taxes (VAT).

Tax Code

This field displays the tax code and description from the main screen.

Tax Account

This field displays the tax account number and name from the main screen.

Account Tax Rate

This field displays the account tax rate percentage for the selected table row on the main screen.

Tax Organization

The account tax organization for the selected table row on the main screen displays in this field.

Tax Type

The tax type for the selected table row on the main screen displays in this field.

Recoverable Account

When a voucher is fully paid, all recoverable tax is posted in this account. If a voucher is partially paid, the recoverable tax will be held in the Recoverable Suspense Account until the voucher is fully paid. Upon full payment, all recoverable tax applicable to the voucher will be transferred into this Recoverable Account.

Account

Enter, or use Lookup to select, the account number to be used for recoverable taxes for this tax code and account combination.

Organization

Enter, or use Lookup to select, the organization to be used for recoverable taxes for this tax code and account combination.

Ref 1

Enter, or use Lookup to select, the Reference 1 to be used for recoverable taxes for this tax code and account combination.

Ref 2

Enter, or use Lookup to select, the Reference 2 to be used for recoverable taxes for this tax code and account combination.

Recoverable Suspense Account

Recoverable tax on those vouchers that are partially paid will be held in this suspense account. Once the voucher is fully paid, all recoverable tax applicable to this voucher will be transferred into the Recoverable Account.

Account

Enter, or use Lookup to select, the account number to be used for the recoverable suspense for this tax code.

Organization

Enter, or use Lookup to select, the organization to be used for the recoverable suspense for this tax code and account combination.

Ref 1

Enter, or use Lookup to select, the Reference 1 to be used for the recoverable suspense for this tax code and account combination.

Ref 2

Enter, or use Lookup to select, the Reference 2 to be used for the recoverable suspense for this tax code and account combination.