New VAT Date field on documents and entries

Important

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Enabled for	Public preview	General availability
Users, automatically	Oct 1, 2022	Oct 1, 2022

Business value

Users can report VAT statements and returns based on the new VAT Date instead of the Posting Date to meet requirements by certain countries.

Feature details

Some countries require reporting for VAT statements and VAT returns by using a date that's different than the Posting Date. Sometimes, the date can be Document Date, but even this date can differ from the requirement. For this reason, the new VAT Date exists on all purchase and sales documents, as well as on journals. Before starting, users can set up the default value for VAT Date (Posting Date or Document Date) in the General Ledger Setup, but the date can be changed on individual documents and journals. When a document is posted, the new VAT Date will be visible in VAT entries and in G/L entries. If necessary, it's possible to change the VAT Date after posting.

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See also

Working with VAT Date (docs)