Receivables - EBS (MOSC)

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Deferred Tax- Unearned Revenue

edited Dec 1, 2013 5:58PM in Receivables - EBS (MOSC) 1 commentAnswered
Hi,

I have a question regarding Deferred Tax?

We have setup Accounting Rules within AR to Defer Revenue for 12 months.

We have a Invoice for $1200.00

At creation of the Invoice the accounting will be

Dr Receivables

Cr Unearned Revenue

Cr VAT

We then run revenue recognition each month to move the Unearned Revenue to Revenue

Can this system do the same for VAT.

e.g The VAT will hit the interim VAT account upon creation. As revenue recognition is run we would like it to move the VAT from the interim Account to the VAT ouput account.

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