EGL: What Is The Difference Between The VAT Account And The VAT Applicable Account Options?
Last updated on DECEMBER 25, 2017
Applies to:PeopleSoft Enterprise FIN General Ledger - Version 8.9 to 9.2 [Release 8.9 to 9]
Information in this document applies to any platform.
****Checked for Currency on July-22-2013****
****Checked for Currency on Dec-26-2017***
What is the difference between VAT Account and VAT applicable account ? How are the transactions for VAT booked in General Ledger? When booking a transaction against an account that gets charged VAT, which account will be hit ?
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