E-Business Tax (MOSC)

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What is the Tax Recoverable/Liability account used for....

edited Mar 11, 2015 8:17AM in E-Business Tax (MOSC) 1 commentAnswered ✓

Hi

When setting up a standard Tax Rate (DK VAT 25%) and add the related default Recovery Rate (DK VAT RECOVERABLE) to this Tax Rate, you need to add the Tax Recoverable/Liability account in the Update Tax Account window...

My question - What is this account used for since it is a required field?

When the accounting on the invoice is completed the account for the Recovery Rate is used, so I do not understand why you need to set up this account on the Tax Rate.

Can anyone help me explain this? I dont see it have any value at all...

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