Description
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VAT that is calculated when the proforma remittance is generated is not recalculated again when the corresponding timesheet is paid in a pay batch. Instead, the VAT amounts that have already been calculated are brought into the pay batch at the VAT pay batch stage (for more information, see …).
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A payee is considered to be a VAT registered contractor if the payee:
The VAT registration status of a payee is captured under a payee validity period on the Payee record. Irrespective of the payroll country, the system refers to the payee validity period that applies on the date when the timesheet is released from the Interpreter for pay (i.e. when the interpreted timesheet status type is set to Reviewed -Pay Only or Reviewed - Pay and Bill) to determine if the payee is VAT registered. |
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This enhancement allows the proforma remittance functionality to be used to generate documents that meet the definition of a valid tax invoice when issued to a VAT/GST registered contractor. In turn, that allows the pay company to claim the VAT/GST that is paid forward to the contractor at the time when the proforma remittance is generated without the need to wait until the contractor is paid.
For other enhancements in this release that facilitate using the proforma remittance functionality to generate tax invoices, see … Creation Date Field for Payslip and Proforma Remittance Document Formats.
Configuration
No configuration required.
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