Maintain VAT Registrations {FCSC-2}

The option is used to define VAT / GST registration. Value added tax (VAT), or goods and services tax (GST) is a consumption tax levied on any value that is added to a product. VAT / GST is an indirect tax, in that the tax is collected from someone who does not bear the entire cost of the tax.
A VAT / GST registration is only required if the institution or a business unit within the institution is registered for GST or VAT. A registration is linked to a ledger and the system does not allow multiple registration within a ledger.

Panel Box 1: Search
The search panel allows the user to search on the registration code, name, number and cycle interval and display the records returned in a table. Records in the table are not updateable and the user must use the form layout in panel 2 to enter or edit a registration detail.

Panel Box 2: Edit

Field	Type & Length	Description
VAT Registration Code	A2	A unique code to identify the registration.
Name	A40	Supply a suitable description for the Registration Code.
VAT Registration Number	A10	The registration number allocated by the Receiver of Revenue.
Present Cycle	YYYYMM	This field cannot be updated once defined. This cycle will automatically increment by the Cycle Interval below whenever tax is reported, by executing menu option VAT 201 Return {FGLOR2-22}.
Cycle Interval	N2	The reporting interval of the registration as per Receiver of Revenue. The system supports 1 (monthly), 2 (bi-monthly) and 6 (bi-annual) reporting.
Input VAT GLA	A4+A8	Before the input and output GLA’s on a tax registration can be entered a registration must first be created without input and output GLA’s. The second step is to create a cost centre linked to the registration. The third step is to create a GLA that consist of the cost centre. The final step is to update the input and or output GLA’s on the registration. Input relates to the tax incurred on the supply of goods and services that may claimed back as a deduction from the tax authority. Input transactions will be debited against this GL-Allocation. GL-Allocations are defined in option Maintain GL Allocation {FCSO-6}).
Output VAT	A4+A8	Output relates to the tax charged in respect of the supply of goods and services.The tax charged is collected from the recipient of such goods and services by the vendor and is required to be paid over to the tax authority. Output transactions will be credited against this GL-Allocation. GL-Allocations are defined in option Maintain GL Allocation {FCSO-6}).

Example(s):

Example(s):

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Processing Rules
	No special processing rules