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Transfer of VAT Balances

Nov 03, 2016 at 10:09 AM

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Hi All

How to transfer VAT balances from C1000 & C2000 to C3000 in ByD. The intercompany journal does not allow to choose the VAT accounts. How do you propose we do this?

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2 Answers

Marlene Katzschner
Nov 03, 2016 at 10:17 AM
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Hi Bilal,

the VAT balances cannot and should not be transfered. The question is, why you would like to repost the balances? Do you have a tax groups where one company pays taxes for various subsidiaries? For this scenarios search "Tax Reporting Group" in your ByDesign help. It describes the necessary steps to achieve it.

If you use case is different, then please describe it. Reposting VAT Balances is no good idea!!

Regards
Marlene

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The Business Issue behind this is below.
There is an Irish group VAT registration covering C1000, C2000 and C2000. Every time there is a VAT return done (i.e. every 2 months) the balances on C2000 and C3000 need to be transferred to the C1000 ledger as this is where the refund from Revenue will come into.
This transfer of balances can't be done by intercompany journal (I've already tried) as the VAT accounts are not available in the list of GL accounts in the drop down

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Marlene Katzschner
Nov 08, 2016 at 01:03 PM
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I do not understand, why the VAT will be created in C2000 and C3000, while you have the Revenue in C3000?

Please try tax Group, then it should be possible.

Alternative approach: Tax Declaration in Company C2000 and Cash Transfer between C2000 and C1000. the payment is assigned to the tax payment.

But you should never repost VAT with JEV!

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