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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 APRIL 16, 2021

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.

Goal

What is the difference between VAT Account and VAT applicable account ?

or,

How are the transactions for VAT booked in General Ledger? Should users be coding a Journal line directly to the VAT account, or should the system be creating this for them?

or,

When booking a transaction against an account that gets charged VAT, which account will be hit ?

or,

 

Solution

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In this Document
Goal
Solution
References


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