tax

[Former Member]

Hi,

what is a vatpool a/c?how can we give the treatment in b/s for that a/c?

[former_member581986]

Hi,

VAT pool account is where you post the balances of all regular VAT accounts to.

Example: regular VAT acount 1234 for input VAT total balance 100 debit, regular VAT account 6789 for output VAT total balance 120 credit.

When "pooling", the balance from the regular VAT accounts 1234 and 6789 will be moved to the "VAT pool account". Refer to reprt RFUMSV00, screen block "Tax payable posting", field "Alternative Tax Payable Account". This is what you cann a VAT pool account. Note that you have to set this up in the IMG (TA OB89).

Hope that helps, points welcome

Csaba

[Former Member]

Hi,

plz explain briefly

[former_member581986]

Hi,

explain briefly - what?

Se my previous post for a briefly explanation )

Assuming you have an input tax VAT account and the month end closing balance is 100 debit. Then you have an output tax VAT accont closing balance 120 credit.

In OB89, you have defined GL 12345678 as the tax payable posting account. Now you can run RFUMSV00 with the proper option (batch input required, etc.). It will create a batch input session for transaction FB41 posting 100 credit to the input VAT account (= balance will be zero), 120 debit to the output VAT account (= balance will be zero), and in total 20 credit to the account 12345678, so the balance of 20 credit will be the total VAT you have to pay to the government.

I cannot explain it better I am afraid )

Hope that helps, points welcome

Csaba