Need to account the Non Recoverable Tax potion to a separate account — Cloud Customer Connect
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Need to account the Non Recoverable Tax potion to a separate account

Hi,

Currently, the tax "VAT" is setup as a recoverable tax in our instance. We have 2 business units (A & B). For A, the tax recoverable percentage is 49% and the non rec potion is 51%. 100% VAT is recoverable for B. To cater this, we have created two recovery rates;

  • 100% Recoverable
  • 49% Recoverable

There after, we created Tax Recovery rate rules. The client has a requirement to record the 51% potion in a separate expense account.

Is there a way to achieve this?

Regards,

Sheneli

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