You use the VAT rate change tool to manage changes in the standard rate of VAT. You perform VAT and general posting group conversions to change VAT rates and maintain accurate VAT reporting.
Depending on your setup, the following changes are made:
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VAT and general posting groups are converted.
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Changes are implemented in general ledger accounts, customers, vendors, open documents, journal lines, etc..
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| Before you perform VAT rate change conversion, you can perform a test conversion to make sure that the VAT rate change procedure is correctly executed. |
To perform VAT rate change test conversion
In the Search box, enter VAT Rate Change, and then choose the VAT Rate Change Setup link.
Verify that you have already set up the VAT product posting group conversion or the general product posting group conversion.
Important Clear the Perform Conversion check box. Important Clear the VAT Rate Change Tool Completed check box. The check box is automatically selected when the real VAT rate change conversion is completed. On the Home tab, in the Process group, choose Convert.
After the conversion is complete, on the Home tab, in the Process group, choose VAT Rate Change Log Entries to view the results of the test conversion.
Important During test conversion, the Converted field in the VAT Rate Change Log Entry table is cleared and the Converted Date field in the VAT Rate Change Log Entry table is blank. Verify each entry before you perform the conversion. In particular, verify transactions which use an old VAT rate.
To perform VAT rate change conversion
In the Search box, enter VAT Rate Change, and then choose the VAT Rate Change Setup link.
Verify that you have already set up the VAT product posting group conversion or general product posting group conversion.
Select the Perform Conversion check box.
Important Clear the VAT Rate Change Tool Completed check box. The check box is automatically selected when the VAT rate change conversion is completed. On the Home tab, in the Process group, choose Convert.
After the conversion is complete, on the Home tab, in the Process group, choose VAT Rate Change Log Entries to view the results of the conversion.
Important After the conversion is completed, the Converted field in the VAT Rate Change Log Entry table is selected and the Converted Date field in the VAT Rate Change Log Entry table is filled in with the conversion date. Review each entry. In particular, review transactions which use an old VAT rate.
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For more information about how to work with fields and columns, see Work with Data. For more information about how to find specific pages, see Search. |