<?xml version="1.0" encoding="utf-8"?>
<ManualTopic ID="/baanerp/diffsp2/tf/onlinemanual/000150Diff61SP2" xml:lang="en">
   <Header>
      <Title>VAT books</Title>
      <Keyword type="header" order="d1e247508">
         <Level1>Differences Infor LN FP2</Level1>
         <Level2>VAT books</Level2>
      </Keyword>
   </Header>
   <GeneralSection>
      <Paragraph>Italian law requires companies to prepare and submit a <Link href="/baanerp/tf/glossary/glossary#000486" role="glossary">VAT book</Link> and a <Link href="/baanerp/tf/glossary/glossary#000487" role="glossary">VAT liquidation report</Link>.</Paragraph>
      <Paragraph>The VAT book is a legal report of all value added tax (VAT)
		transactions of a company, in date sequence. The transactions can be grouped by
		tax articles, which typically group transactions that have the same tax
		percentage.</Paragraph>
      <Paragraph>In addition to the VAT book, instead of the VAT declaration,
		companies must yearly submit a VAT liquidation report which shows the net VAT
		amount payable to the tax authorities for the report period.</Paragraph>
      <Paragraph>The liquidated VAT amount is the result of the VAT on purchases
		minus the VAT on sales. If the result is a negative amount, the amount must be
		paid to the tax authorities. If the result is a positive amount, the amount is
		carried over as a credit amount to the next VAT book period.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Infor LN SP1</SectionTitle>
      <Paragraph>'Infor LN SP1 does not support the VAT book and the
		VAT liquidation report.</Paragraph>
   </GeneralSection>
   <GeneralSection>
      <SectionTitle>Infor LN FP2</SectionTitle>
      <GeneralSection>
         <Paragraph>In Infor LN FP2, you can prepare and submit a VAT book and a VAT liquidation
		  report.</Paragraph>
         <List>
            <ListIntro>To support the VAT book functionality, the following new
			 sessions were added to the <GUIRef href="/baanerp/tf/gld" role="module">General Ledger</GUIRef> module in <GUIRef href="/baanerp/tf" role="package">Financials</GUIRef>:</ListIntro>
            <ListItem>
               <GUIRef href="/baanerp/tf/gld/tfgld0160m000" role="session">VAT Books (tfgld0160m000)</GUIRef>
            </ListItem>
            <ListItem>
               <GUIRef href="/baanerp/tf/gld/tfgld1435m000" role="session">Print VAT Book (tfgld1435m000)</GUIRef>
            </ListItem>
            <ListItem>
               <GUIRef href="/baanerp/tf/gld/tfgld1536m000" role="session">VAT Book (tfgld1536m000)</GUIRef>
            </ListItem>
            <ListItem>
               <GUIRef href="/baanerp/tf/gld/tfgld1535m000" role="session">VAT Book Details (tfgld1535m000)</GUIRef>
            </ListItem>
            <ListItem>
               <GUIRef href="/baanerp/tf/gld/tfgld1534m000" role="session">VAT Liquidation (tfgld1534m000)</GUIRef>
            </ListItem>
            <ListItem>
               <GUIRef href="/baanerp/tf/gld/tfgld1235m000" role="session">Archive / Delete VAT Book Details (tfgld1235m000)</GUIRef>
            </ListItem>
         </List>
      </GeneralSection>
   </GeneralSection>
   <RelatedTopics>
      <SectionTitle> Related topics</SectionTitle>
      <RelTopic>
         <Link href="/baanerp/tf/onlinemanual/000395" role="manual">VAT book - overview</Link>
      </RelTopic>
   </RelatedTopics>
</ManualTopic>