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Bal. VAT Calculation Type Field, Gen. Journal Line Table

Shows the VAT calculation type that the program will use for the balancing account on this journal line when this entry is posted.

The program fills in the field automatically by using the VAT Posting Setup table.

To see the available options, choose the field.

The following table describes the options.

Option

Description

Normal VAT

With this option, Microsoft Dynamics NAV the program calculates VAT for items on this line and creates a VAT ledger entry including the amount.

Reverse Charge VAT

This option is used when you trade with other countries/regions within the EU where the purchaser must compute and settle VAT accounts with the tax authorities.

Remember to also fill in the Reverse Chrg. VAT Acc. field. This option has no effect on your company's financial statements. When you sell goods with reverse charge VAT, you neither calculate nor withhold VAT. When you purchase goods, Microsoft Dynamics NAVwill calculate the VAT amount and debit the purchase VAT account and credit the reverse charge VAT account.

Full VAT

This option is used when the amount to be posted consists entirely of VAT. This option can be useful if, for example, you make a corrective entry in order to correct a VAT calculation error.

Sales Tax

This option is used if Microsoft Dynamics NAV must calculate US sales tax instead of VAT.

Tip

For more information on how to work with fields and columns, see Work with Data. For assistance in finding specific pages, see Search.

Parent Tables

Table Location
Gen. Journal Line Table General Ledger
Posting No. Series Field, Gen. Journal Line Table General Ledger
Posting No. Series Field, Gen. Journal Line Table General Ledger
Posting No. Series Field, Gen. Journal Line Table General Ledger
Gen. Journal Line Table General Ledger
Posting No. Series Field, Gen. Journal Line Table General Ledger

See Also

Reference

General Journal

Other Resources

Work with General Journals
How to: Record VAT