Table of Contents

Detailed VAT Entries

The Detailed VAT Entries functionality has been added to the standard Business Central version to ensure the improved control and handling of any VAT value change which is to be settled in a selected period.

Generally, the method for maintaining detailed VAT entries is similar to the method used for detailed entries in other analytical ledgers in the system, such as detailed vendor and customer ledger entries. This means that detailed information on any value changes in VAT entries is stored as separate entries on the Detailed VAT Entry page. The amounts on the VAT Entries page are the sum of the amounts recorded on the Detailed VAT Entries page related to a given VAT entry.

Viewing Entries on the Detailed VAT Entries Page

To view entries on the Detailed VAT Entries page:

  1. Choose Lightbulb that opens the Tell Me feature, enter Detailed VAT Entries, and then select a related link.

  2. The Detailed VAT Entries page contains the history of individual VAT entries. Columns on the Detailed VAT Entries page are practically the same as on the VAT Entries page. However, two of these columns are specific to the Detailed VAT Entries page:

    Entry Type - Specifies the origin of the detailed VAT entry and can have the following values:

    • Initial Entry – Specifies that the entry is a first detailed VAT entry for a VAT entry or it is a reversed entry of this VAT entry.

    • Postponed VAT – Specifies that VAT postponing or VAT entry reversal are included in the detailed VAT entry.

    • Realized VAT – Specifies that realized postponed VAT or VAT entry reversal are included in the detailed VAT entry.

    • Changed VAT Settlement Date – Specifies that the change of a VAT settlement date or VAT entry reversal are included in the detailed VAT entry.

    • Reverse Charge Correction – Specifies that in the detailed VAT entry, the reverse charge VAT base and VAT amounts have been calculated based on an exchange rate different from the exchange rate used to calculate the purchase and payables amounts.

    • Change Skip in VAT Register - Specifies that in this detailed VAT entry the change in the field Skip in VAT register was registered.

    • Change VAT Attributes - Specifies that this detailed VAT entry has registered the change of VAT attributes for this VAT entry.

    VAT Entry No – Specifies that a VAT entry number to which the detailed VAT entry is linked.

Tip

You can also access the Detailed VAT Entries page from the VAT Application Worksheet page and by running the Find entries action on each posted document related to VAT records.