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Set Up VAT Ledgers

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VAT ledgers are used to store details about VAT in transactions that involve goods and services in Russia or goods imported into Russia. You can create and store different kinds of VAT ledgers. For example, you can create VAT ledgers for:

  • Sales to different groups of customers
  • Sales amount differences and prepayments
  • Purchases from different vendor groups

To use VAT ledgers, you must specify the relevant number series.

To set up VAT ledgers

  1. Choose the Lightbulb that opens the Tell Me feature. icon, enter General Ledger Setup, and then choose the related link.

  2. In the General Ledger Setup window, on the Numbering FastTab, fill in the fields as described in the following table.

    Field Description
    VAT Purch. Ledger No. Series Specifies the number series that you want to use for VAT ledgers for purchase documents.
    VAT Sales Ledger No. Series Specifies the number series that you want to use for VAT ledgers for sales documents.

    You must ensure that vendor purchase documents cannot be posted without stating the invoice date and number.

  3. Choose the Lightbulb that opens the Tell Me feature. icon, enter Vendor Posting Groups, and then choose the related link.

  4. In the Vendor Posting Groups window, for the relevant posting groups, select the VAT Invoice Mandatory field.

    Next, you must set up VAT posting. For each VAT posting setup you must specify if entries that use the setup must be included in VAT ledgers.

  5. Choose the Lightbulb that opens the Tell Me feature. icon, enter VAT Posting Setup, and then choose the related link.

  6. In the VAT Posting Setup window, for each VAT posting setup, fill in the fields as described in the following table.

    Field Description
    Not Include into VAT Ledger Specifies if entries that use the setup must be included in VAT ledgers. For more information, see Not Include into VAT Ledger.
    VAT Exempt Specifies if entries that use this posting setup are VAT exempt. For more information, see VAT Exempt.

Now, you can create VAT ledgers for purchases and sales.

See Also

Report VAT to Tax Authorities
Register VAT on Purchase Orders
Prepare VAT Entries for Posting
Create VAT Ledgers
Create Additional Sheets

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