Recoverable tax codes for VAT

[Former Member]

Hi Experts,

Please let me know how to configure recoverable tax codes for UK VAT. In FTXP what where we have to enter percentage value if we are recovering 5% VAT and rest 10% paying to the vendor.

Thanks,

Sim

[Former Member]

Dear,

You will have to take help of account key....follow below steps....

1. Use transaction OBCN and create two account keys....A. ZCR (VAT Credit), here select 2 in tax type and 1 in posting indicator. B. ZIN (Pay to vendor.) Select 2 in tax type and 1 in posting indicator...

2. You will have to create two condition type (one for 5% and other for 10%) and assign them to tax calculation procedure..

3. Use FTXP and enter 5% in ZCR account key and 10% in ZIN key...

Then try to test the document...

REgards,

Chintan Joshi

[Former Member]

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