MTD - Accounting for VAT Adjustments

[jake0703]

Hi, We are looking at MTD (making tax digital) and our Business needs to account for VAT adjustments - for example - catering invoice from Catering Supplier has both Input and output VAT - This is due to them providing us with a managed service (picks up Input VAT) and also selling our stock (picks up output VAT) -so we need to be able to Specify both input tax value and output tax value on posting with tax codes so that we see the entries on the VAT report.

Has anyone else encountered this? And if so what special settings did you have to have on your tax code (FTXP) and GL Accounts (FS00) to make this type of posting work.

Thanks in advance

[former_member462262]

Hi Jakie

I believe the 9Box Template picks up the Debit and Credit items from the standard SAP ECC Transactions, what Finance / Tax Teams to do is basically to update the 9 Boxes with correct figures like

Total VAT Sales :

Total Purchases VAT etc

Hope i have understood your question correctly.

Br

Kris