Make Manual Corrections to VAT

You can make corrections to posted VAT entries without posting the correction into the VAT or general ledger entries. This is useful if you need to make a change to the total sales or purchases VAT amounts without changing the VAT base. For example, you can manually correct VAT if you receive an invoice from a vendor who has calculated VAT incorrectly.

To make manual corrections to VAT

  1. Choose the Lightbulb that opens the Tell Me feature icon, enter VAT Statement Preview, and then choose the related link.

  2. Select the line that needs to be corrected. You can make the VAT correction on both the Row Totaling and VAT Entry Totaling row Type.

  3. To make the correction, choose the Correction Amount field. The Manual VAT Correction List page opens.

  4. Choose the Edit List action. On the Manual VAT Correction List page, fill in the fields as described in the following table.

    Field Description
    Posting Date Enter the posting date of the VAT correction.
    Amount Enter the amount of the VAT correction. You must enter the correction amount, not the new amount. For example, if the amount is 1,000.00 and should be 1,200.00, enter 200.00.
    Additional-Currency Amount This field displays the amount of the VAT correction in the additional reporting currency.

    The field is automatically calculated, based on the contents of the Amount field and the current exchange rate.

  5. Choose the OK button.

  6. Refresh the VAT Statement Preview page to see your corrections.

  7. To view a report related to the preview of the VAT information, choose one of the following actions:

    Action Description
    Detailed Report Opens the VAT Statement report. For more information, see VAT Statement.
    Form/Intervat Declaration Opens the VAT – Form report.

    The Form/Intervat Declaration report is based on the VAT Statement template that is defined in the general ledger setup. Therefore, it might export data that is not the same as what is shown on the VAT Statement Preview page.
    Declaration Summary Report Opens the VAT Statement Summary report.

See Also

Belgian VAT
Print Periodic VAT Reports
Set Up Non-Deductible VAT