Company Variable 18: Enable VAT Line Type for European VAT Companies in Creditor Invoice Management

Use this Company Variable to determine if the VAT line type for European VAT companies should be enabled in creditor invoice management.

When this Company Variable is enabled, a new check box column, Creditor Invoice VAT Line, displays on the AR/AP VAT Codes tab in Settings > Finance > VAT Settings. You can use this check box to mark an AR/AP VAT code as a VAT line type. A third line type, VAT Entry, also displays in Creditor Invoice Management for companies using the European VAT sales tax method.

A creditor invoice can have only one VAT entry and the only values that you can change on this line type are the Activity and Creditor VAT. In addition, the Creditor VAT column allows for selecting only AR/AP VAT codes marked using the Creditor Invoice VAT Line check box.

WorkBook calculates for the VAT amount, which on a VAT entry line, is the only one filled out. The net amount will always be zero so that the VAT entry line will have an amount in both the VAT/Tax Amount and Total Amount fields.

It may be necessary to perform a refresh when modifying Company Variable values.