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.
What is the difference between VAT Account and VAT applicable account ?
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?
When booking a transaction against an account that gets charged VAT, which account will be hit ?
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