What is the difference between VAT calculation type Inclusive and Exclusive?
There are two VAT calculation types in PeopleSoft: Inclusive and Exclusive. When Inclusive is used, the system will calculate the tax amount (GST or PST) based on the tax code that the user selected. The user need not enter any GST/PST amounts into the system. When Exclusive is used, the users can override the system calculation, and enter the tax amounts into the applicable fields. The user needs to enter the GST amount into the VAT field on the Invoice Information tab, and enter the PST amount into the Sales Tax field. In order to make the Sales Tax field accessible the user needs to uncheck SUT Exempt box. If a voucher has multiple lines (either invoice or distribution) the cumulative totals for each tax are placed in the Sales Tax and VAT fields in the Invoice section.
