Product Update 407: Multiple taxes supported for XML financial and SDK with flexible VAT system

In product update 405, XML and SDK functionalities were supported for multiple taxes for the invoice system (see Product Update 405: Multiple taxes supported for XML financial and SDK). In Exact Globe Next, cash-based VAT is supported by selecting the Flexible VAT system check box in the General ledger settings screen (see Release 381: VAT cash system supported on VAT return).

In this product update, the following tags have been added into the XML schema file:

• <UseCashSystem> – Indicates if cashbased VAT is used.
• <GLToPaySuspense> – Displays the VAT to be paid account general ledger defined in the VAT codes screen (see Creating and maintaining tax codes).
• <GLToClaimSuspense> – Displays the VAT to be claimed account general ledger defined in the VAT codes screen.

Note:

• This functionality is applicable for all the legislations if the Flexible VAT system check box in the General ledger settings screen is selected.
• This functionality is not applicable for Exact Compact.
• This functionality is applicable for the XML financial entries and SDK.
• The single and multiple tax environments that include the standard VAT, VAT charge, and non-deductible VAT are supported.
• This functionality does not support the XML import and export for the CSV file format.