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

The Tax Invoice report will be as below


Step 6: Tax Computation

Summary Report

Go to Home > Accounts> Statements > Tax Computation Report

Tax detailed report view