VAT by Customer Prepayment

When a company receives a prepayment from a Customer, you must create a VAT invoice and a VAT record for the amount of VAT.

Setup

To enable the unrealized VAT in the window General Ledger Setup.
Setup the unrealized VAT type and choose the account which will be taken of the operation of unrealized VAT VAT posting setup.
To configure the customer posting groups: set account, which will be taken of the operation of the prepayment.
For each account in the chart of accounts, assign:

After you receive prepayment from a customer, the system creates unrealized VAT records and VAT invoices.

Post prepayment in the General journal (see Prepayment to the vendor and customers).

To return a prepayment, you must create a realized VAT record.

Go to Customer ledger entries -> select returned prepayment -> press return payment.

Fill in the fields:

Field	Description
Posting Date	Specifies the posting date of the entries that you want to include in the report or batch job.
Document No.	Specifies the number of the related document.
New posting Date	Specifies the new posting date.
New Document No.	Specifies the new document number for the prepayment.
Posting Description	Specifies the description that will be added to the resulting posting.
Correction	Specifies the operation is corrective.

Click "OK". The system will automatically create corrective entries.