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This article applies to:

  • Product: ONESOURCE Indirect Tax Compliance

Accounts Receivable - O

The
Accounts Receivable
 (
O
) 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 Sales, Sales within the EU, and Sales outside the EU and Reverse Charge Transactions. Each section is totaled and overall totals of accounts receivable are then calculated.

Data Flow

The
Accounts Receivable
 (
O
) summary sheet is populated via data entered in the tax transaction sheets (
O
 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 will display a row of data on the
O
 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 here. 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.

Standard Sub-schedules

A variety of supporting schedules are available for providing detailed analysis of the input tax:
  • Distance sales
  • Domestic reverse charge – supplier
  • Domestic sales of goods
  • Domestic supply of services
  • Exempt supply with credit – accounts receivable
  • Export of goods
  • Intra VAT group sales
  • Qualifying gifts
  • Reverse charge service
  • Reverse charge service/VAT 100% irrecoverable
  • Reverse charge service/VAT 50% irrecoverable
  • Transfer of going concern (Art 19)
  • Unclassified – accounts receivable

Carry Forward

Information entered on this schedule carries forward to the next period and is displayed with the prior period totals on the right hand side of the window. This allows comparison of the periods' figures to be made and may help you identify any mistakes.

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