E1: 76M: Set Up and Process Mexican VAT (IVA)
(Doc ID 638224.1)
Last updated on MAY 02, 2024
Applies to:
JD Edwards EnterpriseOne Accounts Payable JD Edwards EnterpriseOne Accounts Receivable Information in this document applies to any platform.
Purpose
Overview
In some cases, the VAT calculated for an A/P voucher or A/R invoice is not recognized in the General Ledger until the voucher or invoice is paid. In other words, the VAT is deferred until the cash receipt or payment is entered and posted.
This document provides the steps to set up the system for Mexican VAT and process A/P and A/R transactions subject to Mexican VAT. It also provides information on error handling and reclassification of VAT for gain or loss amounts.
Scope
Details
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