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This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance

Accounts Payable - I

The
Accounts Payable
 (I) sheet splits the totals of each tax code into each rate and whether it is an Invoice, Credit Note or Disallowed VAT amount.
The sheet groups transactions together based on Domestic Purchases, Purchase within the EU, Purchases outside the EU, and Reverse Charge Transactions. Each section is totaled and overall totals of accounts payable are then calculated.

Data Flow

The Accounts Payable (I) sheet is populated from data entered in the tax transaction sheets (
I
 and
N
). It is then used to populate the
Return Summary Analysis
 sheet.
note
Only tax code transaction sheets that have been developed and populated display a row of data on the
I
 sheet. To see all tax codes applicable, select Show all tax codes?.

Developing the Schedule

The schedule is created with all new files.

Completing the Schedule

Figures from any of the standard supporting schedules are automatically populated.
This schedule automatically calculates the effective VAT rate for each item. Review the rates in this schedule to identify potential errors.
Any non-standard schedule totals which do not link to the standard supporting schedules must be manually added. Link the appropriate value on the non-standard schedule to a data entry cell on this schedule.
To insert additional rows, select the data entry row and select
Insert
.

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