EAP: Incorrect VAT Accounting Entry At Payment Post When Prepayment is Applied
Last updated on MARCH 18, 2016
Applies to:PeopleSoft Enterprise FIN Payables - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Applying Prepayment to Regular voucher with several lines ends in incorrect amount on VAT declaration (final deductible VAT account). This happens when VAT Declaration point is at Payment.
1) Create Prepaid Voucher - VAT declaration point = At Payment.
2) Pay the Prepaid Voucher.
3) Post the Payment.
4) Create a Regular Voucher with 2 lines and 2 different VAT % - VAT declaration point = At Payment.
5) Apply Voucher to Prepayment.
6) Post the Voucher - make sure that another voucher than the one applied to prepayment is also processed, otherwise PPAY accounting lines will not be created and will have to run process again.
7) Pay rest of amount due on Voucher.
8) Post the Payment.
The VAT amount in Accounting Entry should be correct.
The VAT Amount is incorrect.
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