A new field was added to the Calculate VAT”. As Initiator you will not accounting line: “* be able to make any changes to this field. By default this will be “YES”. 2. Please note that for documents that already existed before the calculation of VAT was added to KFS, the will be Only new documents will be “Calculate VAT” “NO”. “YES”. Only the Campus Reviewer has the access to change to is a valid “YES” “NO”. If there reason why VAT should not be calculated, you may request the Campus Reviewer to 3. change the Calculation of VAT to NO. Please note: The default for is but it still depends on which “Calculate VAT” “YES” – account and object are used whether VAT will be calculated. Refer to scenarios in 2.1 and 4. 2.2. Complete the accounting line and click on Add 5. To check the transaction in the Pending Entries, you first have to save the document. Click 6. on Save. At the top of the document it will indicate: 7. Figure 3 Click on in the General Ledger Pending Entries Tab. 8. Figure 4 The pending entry lines will be displayed for the Accounting line you just entered and added. Please refer to the VAT lines that are automatically added to this transaction. The R140.96 credit on 1A00346, is the line you entered. KFS automatically add the debit 9. VAT line of R2.16 against 1A00346.2251 as well as the R2.16 credit line against the central account 1GQ... (depending on the campus). Then KFS also automatically adds the offset lines (object 7991). Figure 5
2. A new field was added to the accounting line: “* Calculate VAT”. As Initiator you will not be able to make any changes to this field. By default this will be “YES”. Please note that for documents that already existed before the calculation of VAT was added to KFS, the “Calculate VAT” will be “NO”. Only new documents will be “YES”. 3. Only the Campus Reviewer has the access to change “YES” to “NO”. If there is a valid reason why VAT should not be calculated, you may request the Campus Reviewer to change the Calculation of VAT to NO. 4. Please note: The default for “Calculate VAT” is “YES” – but it still depends on which account and object are used whether VAT will be calculated. Refer to scenarios in 2.1 and 2.2. 5. Complete the accounting line and click on Add 6. To check the transaction in the Pending Entries, you first have to save the document. Click on Save. 7. At the top of the document it will indicate: Figure 3 8. Click on in the General Ledger Pending Entries Tab. Figure 4 9. The pending entry lines will be displayed for the Accounting line you just entered and added. Please refer to the VAT lines that are automatically added to this transaction. The R140.96 credit on 1A00346, is the line you entered. KFS automatically add the debit VAT line of R2.16 against 1A00346.2251 as well as the R2.16 credit line against the central account 1GQ... (depending on the campus). Then KFS also automatically adds the offset lines (object 7991). Figure 5
GL%20E-docs%20-%20VAT%20calculation%20%2811-07-16%29.docx