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In the General the following fields are set:
VAT Bus. Posting Group)
by selecting from the table VAT Bus. Posting Groups
VAT Prod. Posting Group
by selecting from the table VAT product posting groups
VAT Calculation Type
Normal VAT (Normal VAT )
for the standard calculation of local VAT,
Reverse Charge ( VAT)
This option is used when the line relates to a sale to another country or region of the European Union, where the seller does not collect VAT because it is the buyer who has to calculate and pay VAT to the tax authority, or in the case of a domestic transaction under the PDP regime,
Full VAT (Full VAT )
This option is used when the amount you charge in this line is made up entirely of VAT. This option can be useful, for example, when you are creating Provision in creating provision in order to correct an error in the VAT calculation. It is also used for Import VAT, when you need to post a document containing the full amount of VAT, e.g. you will receive a VAT invoice from the Tax Office for imported goods,
Sales Tax
This option is used only if the program is set up to use U.S. sales tax. This option instructs the program to retrieve information from specific sales tax tables and calculate sales tax instead of VAT
Description
Specifies a description for this particular combination of a VAT business posting group and a VAT product posting group.
VAT Identifier
Specifies the code for a group of different VAT posting settings with the same attributes, such as a VAT percentage (see also the description of use in the text above and in chapter VAT Clause 12.6.2 https://iao.atlassian.net/wiki/spaces/OCDOC/pages/edit-v2/76710567#VAT-Clause )
VAT Clause Code
select VAT clauses from the table, see chapter 12.6.2 https://iao.atlassian.net/wiki/spaces/OCDOC/pages/edit-v2/76710567#VAT-Clause for a description of the clause settings
EU Services (EU Service)
Specifies whether combinations of VAT business posting groups and VAT product posting groups should be reported as services in periodic VAT statements (in Sales list statements).
Intrastat Service
Specifies whether this combination of the VAT business posting group and the VAT product posting group is used in the Intrastat journal.
Non Deductible VAT Correction Account (Non Deduct. VAT Corr. Account)
Specifies the general ledger account for the correction of non-deductible VAT entries as part of the annual settlement of the VAT coefficient
This field is no longer available for BC17 and above. Non-deductible VAT is handled in a new way for BC22 and above. A description of the settings and use is available in the MS documentation.
Tax Category
Specifies the VAT category in connection with electronic document sending. For example, when you send sales documents by using PEPPOL, the value in this field is used to populate the TaxUsed element in the Vendor group. The number is based on the UNCL5305 standard.
Reverse Charge Check (PDP)
specifies whether the PDP will be checked in relation to the limit setting in the Commodities – Commodity Settings table.
In the Sale (Sales) fields are set as follows:
Sales VAT Account
Specifies the general ledger account to which sales VAT is posted for the combination of a business group VAT and an item VAT group
Account sm. Sales VAT Currency Exchange Rate Account
Specifies an auxiliary account for clearing sales VAT because of the different exchange rate for VAT
Sales Sales Statement (VIES Sales)
Specifies the option to include this posting setup in the Sales List.
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