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NAV2015 GST/VAT Customization
jasonandmary
Member Posts: 21
Hi all,
Just checking if anyone has done customization related to GST/VAT for the below case before? If there is, please advise.
1. Sales GST/VAT can be used in the standard functionalities
2. Purchase GST/VAT, there is some slight customization.
The company local currency is USD. But the purchases made by the company must use Vendor Exchange Rate for the GST computation.
I was thinking of using standard functionality ACY to take care of both sales and purchase transactions.
For example, company receives a purchase invoice of USD1,000 with a VAT rate of 10% but needs to book in the GST computation in FCY (eg, FCY currency exchange rate is 1.5).
As such, FCY equivalent would be 1,500 and VAT reported using ACY is 150.
However, vendor purchase invoice has a VAT amount of say 155.
How can I customize in the way that I still can make use of the standard ACY reporting for GST. Or is there any other better workaround?
Thanks in advance.
Just checking if anyone has done customization related to GST/VAT for the below case before? If there is, please advise.
1. Sales GST/VAT can be used in the standard functionalities
2. Purchase GST/VAT, there is some slight customization.
The company local currency is USD. But the purchases made by the company must use Vendor Exchange Rate for the GST computation.
I was thinking of using standard functionality ACY to take care of both sales and purchase transactions.
For example, company receives a purchase invoice of USD1,000 with a VAT rate of 10% but needs to book in the GST computation in FCY (eg, FCY currency exchange rate is 1.5).
As such, FCY equivalent would be 1,500 and VAT reported using ACY is 150.
However, vendor purchase invoice has a VAT amount of say 155.
How can I customize in the way that I still can make use of the standard ACY reporting for GST. Or is there any other better workaround?
Thanks in advance.
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