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VCT general settings

VCT general setting	Details
Choose Buyer use tax instead of Seller use tax (US Only)	By default, the system uses the seller use tax rate to calculate the tax liability (except for instances that involve Direct Pay Permits or an invoice with no tax amount). Select the Choose Buyer use tax instead of Seller use tax (US Only) check box if you want to use the buyer use tax rate to calculate the tax liability. This setting applies to U.S. transactions only. For Canada transactions, the seller use tax rate always applies.
Disable VCT verification for Multistate and Multiprovincial Invoices when Undercharge Accrue Variance is used	If you use the Accrue Variance allocation method for undercharges, the VCTV process calculates the variance and prorates the vendor charged tax for the states or provinces listed on a multistate or multiprovincial invoice. Canada invoices with provinces that do not levy provincial sales tax (PST) are not considered for processing through the VCTV feature. If you want to bypass VCTV processing for invoices that have multiple lines with transactions for different states or provinces, select Disable VCT verification for Multistate and Multiprovincial Invoices when Undercharge Accrue Variance is used.
Perform VCT Verification if the system calculated tax amount for the Invoice Exceeds This value	A critical amount's an amount so small that your company considers it immaterial to adjust. Entering a critical amount in the Perform VCT Verification if the system calculated tax amount for the Invoice Exceeds This value field determines whether VCTV processing ends or continues. For example, you enter 1.00 in the Perform VCT Verification if the system calculated tax amount for the Invoice Exceeds This value field. VCTV processing ends if the amount for a U.S. transaction's less than $1.00 USD. VCTV processing continues if the amount for the transaction's greater than or equal to $1.00 USD. This example uses a USD transaction. Actual transactions submitted for VCTV processing use the currency specified in the transaction information. When entering a critical amount in the Perform VCT Verification if the system calculated tax amount for the Invoice Exceeds This value, don't use symbols, such as USD, $, C$, CAD, or CAN$.
Document Type, Start Date and End Date	Enter the Document Type to use with the VCTV feature in the Document Type field. The VCTV feature's triggered only if the value entered in the Document Type field matches the calling system's document type. If you know the date the document type will become inactive, enter the date in the End Date field. Otherwise, don't enter an end date. You can add as many document types as necessary. Overlapping dates for the same document type for a company aren't allowed but different document types for the same company can have overlapping dates. A company can use the same document type regardless of the date range for another company's document type. For example, ACME Fireworks, Inc. enters a document type of AFI1 with a start date of January 1, 2023 and an end date of March 15, 2023. ACME Fireworks can't add the same document type with the same start and end dates because the dates of the 2 document types overlap. ACME Fireworks, however, can add a different document type with overlapping start and end dates. Additionally, a different company (for example, ACME Pyrotechnics Presentations, Inc.) can have the same document type, start and end dates as ACME Fireworks.

This article applies to:

Product: ONESOURCE Determination,ONESOURCE Indirect Tax