VAT setting step by step guide
Step 1: Setting Company TRN
Update TRN (Tax Registration Number) Business partner and Company Profile
Got to Application Home > Control Panel > Company Setup > Add New /Modify
Company Profile:
Need to add the Company TRN number here
Step 2: Setting Ledgers in Chart of Accounts as per UAE requirements
Go to Application Home > Accounts > Setup > Chart of accounts
Chart of Accounts:
Need to create required Tax ledger for Output VAT and Input VAT here
Step 3: Customer / Supplier Master
Changes Required in business partner (customer or vendor) master
Go to Application Home > Sell > Setup > Business Partner
Here we have to add Customer /Suppler's TRN number.
Step 4 : Adding Tax Master
Go to Application Home > Accounts > Setup > Tax Charge
Add the Tax Percentage and map the ledger while adding a Tax Component
and like in the below list
Step 5: Tax Invoice
User has to select the Tax Charge in line item
Step 6: Tax Computation
Summary Report
Go to Home > Accounts> Statements > Tax Computation Report
Tax detailed report view
