Question

Self assessment taxes

  • 21 March 2024
  • 3 replies
  • 32 views

Hello

For our Toulouse division I am trying to configure a Self assessment taxes type tax for purchases made within the European Union. When I record an invoice, I want to generate a debit and credit entry for the 20% tax. On net, the tax receivable is $0, but I need to see the recording

we are in 10.2.700.6

Here’s what I did and it didn’t work :

Tax liability configuration :

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3 replies

Hello

I cannot open your attachments.

The set up for EU suppliers is usually relatively straight forward:

you need the tax type collection method to be Self Assessment, Dual entry (Self-Assessment, dual entry - creating both input and out tax transactions as for EU purchases)

you need to enter an effective rate of say 20%

If you want the + and - to go to specific VAT accounts then the AP Tax Contra and AR Tax Contra contexts in the Tax GL control codes decide the GL accounts to be used.

I hope that helps,

best regards Steve Tyack

 

sorry, i link 2 attachements

thanks Steve  :)

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