The VAT codes and rates used throughout the system are set up and maintained in the General Supporting Files. You can set up an unlimited number of VAT codes, specifying for each one the rate as a percentage, and the General Ledger control account.
When specifying the General Ledger VAT control account, you can browse on cost centres, account codes and posting codes.
Other accounts defined on the VAT code record also include the following, if your system is set up to use European Tax:
Refer to European VAT Requirements for further details.
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