Hi Experts,
I am using Indian Localisation.
When I run the Vat Settlement form , automatically total vat payable and vat receivable account is getting populated. But the total VAT payed during the purchase is not getting populated in the Vat Settlement screen.
a) In the above case do we have to manually put the amount in Vat Settlement screen,
if yes,
b) from where will i find total purchase VAT and CST Amount for that period.
c) I am not able to enter any value in ADjustment column , it says "Setoff amount should not be greated than 0"
Can someone suggest a solution or am i following the wrong process
Thanks
Madhu
--He Who Ask question is a fool for 5 Minutes , he who does not ask remains fool forever--
0
Answers
Path : Financial Management - > General Ledger - > History - Reports - > Vat settlement .
Yes you have to manually enter the amount how much you want to pay
Vat settlement will show only Input Vat only (it does not CST purchases amount ).
But u can get the reports about Vat purchases , Cst Purchases throughthe below reports.
Intra state Sales and Purchases , Purchase Book Vat
Madhu
--He Who Ask question is a fool for 5 Minutes , he who does not ask remains fool forever--
The system shows, VAT credit (out of purchases) and VAT payable (out of Sales transactions). These info are sufficient for VAT settlement.
Regards
Madhu
--He Who Ask question is a fool for 5 Minutes , he who does not ask remains fool forever--
System automatically update the Input Vat amount (from LocalPurchases) and Local vat amount , Local Cst sales amount.
You need not to enter manually.