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Matching VAT collected amounts & payments made

marlene_pinhal
Participant
0 Kudos

Dear community,

I need your expertise for the following scenario regarding the matching of VAT collected amounts and the payments made:

- all amounts collected on invoices are accounted in the GL accounts: “VAT input deductible investment”, “Input Tax (VST)” and “Output tax (MWS)”.

- when the quarterly reconciliation is performed, the VAT collected and the VAT to be paid are declared via a form to the federal authorities and the payment is via the GL account “bank xx Transit Ledger”.The client usually performs the reconciliation of the GL accounts “VAT input deductible investment”, “Input Tax (VST)” and “Output tax (MWS)” with the amount paid and reduce the total of the GL account “bank xx Transit Ledger”.

The set-up of the GL accounts “VAT input deductible investment”, “Input Tax (VST)” and “Output tax (MWS)” does not allow to perform manual entries. Is it correct that these accounts don’t have manual entries or does a specific transaction code or process allow to match payment made with outstanding VAT amounts? 

Thank you.

Regards,

 

Accepted Solutions (1)

Accepted Solutions (1)

Lucian
Product and Topic Expert
Product and Topic Expert
0 Kudos

Please check the Post Tax Payables (F1597) app mentioned in test script J58.

You can use this app to pay tax amounts by posting the balances of input and output tax accounts to a tax payable account.

Answers (1)

Answers (1)

marlene_pinhal
Participant
0 Kudos

Thank you ‎@Lucian for your help!