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EGL: What Is The Difference Between The VAT Account And The VAT Applicable Account Options? (Doc ID 1308663.1)

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***

Goal

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 ?

 

Solution

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In this Document
Goal
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