Posting VAT Documents in General Journals
Polish accounting regulations oblige each business entity to enter all key information about contracting parties in the sales and purchase VAT register. When recording purchase invoices from one-time vendors, you do not need to create special cards to settle them. Polish Localization provides the features that change the posting process for VAT transactions by adding the possibility to enter the contracting party (VAT contractor) data.
Note
Polish Localization enables you to post a VAT transaction by using the general journal only, if Account Type and Account No. are specified. If the other party to the transaction is also a VAT payee, fill in two general journal lines. It is not possible to enter VAT transaction data in the balancing entries in the Bal. Account Type and Bal. Account No fields.
Posting a Document with VAT for a VAT Contractor
Note
The process is usually run for purchase invoices.
To post a purchase invoice with VAT by using the general journal and to enter the VAT contractor data:
- Choose the
icon, enter General Journals, and then select a related link. - If any journal batches are defined on the General Journals page, select one of them.
- On the General Journals page that opens, enter the data from the posted document in the standard way, remembering to fill in the following fields correctly:
- Gen. Posting Type
- Gen. Bus. Posting Group
- Gen. Prod. Posting Group
- VAT Bus. Posting Group
- VAT Prod. Posting Group.
- In the Line menu on the ribbon, select VAT Additional Info to open the VAT Additional Info page.
- On the VAT Additional Info page, on the General FastTab fill in important fields such as:
- Document Receipt Date/Delivery Date
- VAT Settlement Date
- SAFT Ext. Document No.
- On the same page and FastTab, expand the list in the VAT Contractor field. The list contains contractors’ data that can be displayed in the VAT register, without the need to create a new card for settlement purposes.
Tip
If a new contractor is to be added to the list, choose New and enter the contractor’s data on the Contact Card page. To ensure the contact is available in the VAT Contractor field, set the contact type to Company.
- If a contractor is selected from the drop-down list in the VAT Contractor field, the application automatically fills the contractor’s name and address data in the fields on the Name/Address FastTab on the VAT Additional Info page. If the document is entered in multiple journal lines, the contactor's data is updated for the selected contractor in all journal lines that contain the same document number and posting date.
Tip
If the document is entered into multiple journal lines, select the value in the VAT Contractor field after the lines are created to ensure compliance of all contractor's data.
- On the VAT Additional Info page, on the Name/Address FastTab the Country/Region Code field enter a relevant location for the transaction.
- Post the purchase invoice with the VAT contractor's data entered in the VAT Additional Info. Posting results are shown in the Sales/Purchase VAT Register report.