A/R and A/P Vat into 2 seperate GL accounts 1

[johnhugh]

Hello,

How can I seperate A/R and A/P VAT in 2 accounts in Accpac 5.6?
Do I have to set up 2 tax authorities and assign one the vendors and the other to suppliers?

 

[Jay Converse]

Yes.

 

[ettienne]

No.... use one tax authority, check the tax recoverable box and enter a recoverable tax account and set the recoverable rate.
AR tax goes to the tax liability account and AP tax goes to the recoverable tax account.

 

[johnhugh]

thank you.