Hungarian tax legislation requires that VAT amounts be calculated and stored on the date that goods and materials are delivered, except for VAT amounts on incoming invoices that arrive later than the tax reporting date. VAT amounts of this kind must be recorded and reported on the registry date.

Also, the regulations require that VAT for services that are continuously delivered, such as rents, leases, consulting, and heating, must be recorded and reported on the due date.

You can use the Set up sales tax processingfeature to select whether the VAT on late invoices is recorded and reported on the registry date or on the due date.

You must select the Sales tax reporting(CRSEHungary) configuration key to use this feature.

  1. Click General ledger> Setup> Sales tax> Ledger posting groupsto open the Account groupform.

  2. Select the ledger posting group.

  3. Click the Generaltab.

  4. In the Deferred incoming Taxfield, select the deferred tax credit account for deferred incoming tax.

  5. In the Deferred outgoing Taxfield, select the deferred tax debit account for deferred outgoing tax.

  6. Close the Account groupform.

  7. Click General ledger> Setup> Sales tax> Sales tax settlement periodsto open the Sales tax settlement periodsform.

  8. Click the Generaltab, and then select the Transfercheck box to transfer sales tax from previously registered invoice.

    Note Note

    If the Transfercheck box is selected, the tax transactions are posted to the accounts specified in the Deferred incoming Taxand the Deferred outgoing Taxfields when the original ledger transactions are created for sales tax items. If the posting date is later than the tax reporting date and the specified account number is a temporary account, the VAT is transferred on the registry date.

  9. Press CTRL+S or close the form.

See Also