E1: 43: Non Recoverable VAT On Retention

(Doc ID 2345810.1)

Last updated on JANUARY 05, 2018

Applies to:

JD Edwards EnterpriseOne Procurement and Subcontract Management - Version 9.1 and later
Information in this document applies to any platform.

Symptoms

There are some complex VAT requirements wherein some VAT may not be recoverable at all or partially recoverable. If the VAT on the retention is subject to partial or non-recoverable VAT, the system will only expense the non-recoverable when the retention is released. The timing of this could be in another fiscal year when there is no longer any budget for the specific project code or account to allocate the VAT adjustment to.

The request is to allow the non-recoverable portion of VAT on the retention to be expensed when the progress payment and retention is created, while the recoverable portion of VAT on the retention to be applied when the retention is released.

Cause

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