Transferring GST amounts to the settlement account means that the Input Tax Credit account is credited and the GST account is debited with the amounts calculated for the GST statement period. The net amount is credited or debited, if the input tax credit amount is larger to the GST settlement account. You can post the settlement immediately or print a test report first.
To transfer GST amounts to the settlement account
In the Search box, enter GST Statements, and then choose the related link.
In the GST Statement window, on the Actions tab, in the Functions group, choose Calc. and Post GST Settlement.
On the GST Posting Setup FastTab, you can enter codes in the GST Bus. Posting Group and GST Prod. Posting Group fields to select the entries to be processed. If you do not enter any codes, entries with all business group codes and product group codes are included.
On the Options FastTab, specify the conditions for the batch job. For more information about a specific field, select the field, and then press F1.
Choose the Print button to start the batch job.
If you print a test report to obtain approval before posting you must the select the Post field to run the batch job again.
 Important |
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| If you calculate VAT on trade with the EU, you must also prepare a VIES declaration for the tax authorities. |
 Tip |
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For more information about how to work with fields and columns, see Working with Microsoft Dynamics NAV. For more information about how to find specific pages, see Search. |