This tab contains general information about this bank receipt with the Tax Refund transaction type: the entity, tax type, the document which is the basis for this incoming payment, and other data which may depend on the configuration of your system.
If you are manually creating this receipt, it is recommended that you first select Tax Refund in the Transaction Type field—this enables the fields appropriate for this transaction type.
The required fields are: Cash Flow Item, Amount, Entity, and Bank Account.
The "Bank Receipt (create)" form. The Main tab
Make sure the Tax Type field shows the default value, VAT.
In the Type of Payment field, you can select one of the following types:
- Tax: To register a refund received from the Tax Authority.
- Penalties: To record the refunded penalties.
- Interest: To record the refunded incorrect interest previously paid.
<Auto> in the Number field indicates that a number to this document will be assigned automatically when you save the document.
The From field is populated automatically with the current business date. You can select another date, if necessary.
In the Entity field, select an entity of your company for which this document is being prepared. The Entity field is available if the Multi-Company Accounting option is selected on: Administration > Settings> General Settings. You can select your personal default entity to appear in documents; for this, refer to Personal Settings. If you have not selected your default entity, the entity defined first will be used as the system default value.
In the Basis field, you can select a document of the VAT Liability type related to the period of the tax refund as the basis for the current document. Click the Fill by Basis button to populate the document fields with the data from the document selected as the basis.
The Bank Account field shows the default bank account of the selected entity, however, if needed, you can select another bank account.
The Amount (AED) field is populated with the refund amount in the national currency. You can edit the amount if needed. If the currency of the bank account is other than the national currency, the system will automatically calculate the amount in the currency of the bank account. in a field that appears below. The effective exchange rate for the currency with respect to the national currency is shown to the right of the field.
The toolbar buttons
After filling out the tab, click the Save button to save your work. After filling out all the tabs, click Post to post the document without closing it or Post and close to post and close the document.
For descriptions of other buttons, see Document Toolbar.