How to: Set Up VAT Opening

To set up VAT opening, you must set up VAT. For more information, see How to: Set Up VAT.

You must also set up the following:

• State codes for vendors, customers, and locations. For more information, see How to: Set Up State Codes and Tax Identification Numbers for VAT.

  Note

  When you initialize a new company, source codes are inserted automatically in the Source Code Setup window. The source code with the VAT opening is assigned automatically. For more information, see Source Code Setup.

• VAT batches to make transactions that update the opening balances of the VAT.

To set up VAT batches for VAT opening

1. In the Search box, enter VAT Batches, and then choose the related link.

2. On the Home tab, choose New.

3. Fill in the fields as described in the following table.

   Field	Description
   Batch Name	The batch name that you enter when you create VAT batches.
   Description	The batch name description.
   No. Series	The number series that will be used to assign document numbers to ledger entries that are posted from the batch.
   Source Code	The source code for the VAT batches.

4. Choose the OK button.

See Also

Tasks

How to: Set Up State Codes and Tax Identification Numbers for VAT
How to: Enter Opening Balances for Input VAT and Output VAT
How to: Enter Opening Balances for VAT Deferment

Concepts

VAT Overview
VAT Opening Overview

Other Resources

State
Source Code Setup
Source Code Setup
$ T_320 Tax Jurisdiction $)
Tax Group
Tax Detail
Tax Area
Tax Area Locations
VAT Batches
VAT Batches