Distribution of charges/discounts on gross amount

Indicates whether charges and discounts must be distributed on the gross amount. The system displays “Yes” or “No”.

VAT amount calculated on gross amount

Indicates whether VAT must be calculated on the gross amount. The system displays “Yes” or “No”.

VAT applicable on foreign currency cash discounts

Indicates whether VAT is applicable on foreign currency cash discounts. The system displays “Yes” or “No”.

Duplicate VAT codes allowed

Indicates whether duplicate VAT codes are allowed. The system displays “Yes” or “No”.

Default Years From Financial Calendar

Indicates whether years must be defaulted from the financial calendar. The system displays “Yes” or “No”.

Default Periods from Financial Calendar

Indicates whether periods must be defaulted from the financial calendar. The system displays “Yes” or “No”.

Allow modification of calculated VAT (Sales cycle)

Indicates whether VAT calculated for “Sales Cycle” can be modified. The system displays “Yes” or “No”.

Tolerance (%) for VAT Amount Correction

The limit in percentage, beyond which the VAT amount correction is required.

Tolerance (Flat) for VAT Amount correction

The flat rate, beyond which the VAT amount correction is required.

Maximum VAT % allowed

The maximum percentage of VAT allowed.

Euro Registration ID

The code identifying the Euro registration account.

Tax Authority ID

The code identifying the Tax authority.

Org. Unit for VAT Calendar/Closure/Declaration

The organization unit to which the VAT Calendar, Closure, Declaration postings must be accounted.

ISO Country Code

The code identifying the ISO country.

VAT Registration ID

The code identifying the VAT registration account.