Updating tax, charge and discount details

Updating tax, charge or discount details

This page allows you to record any additional tax, charge and discount details for the repair invoice apart from the existing ones. Tell me more.

Select the “T/C/D” link at the bottom of the page.

The “Tax / Charge / Discount” page appears.

The system displays the following:

Invoice #	The number identifying the repair invoice.
Currency	The currency charged in the invoice.
Status	The status of the invoice. It could be “Draft” or “Fresh”.
	Draft – indicates a newly created invoice that cannot be authorized.
	Fresh – indicates a newly created invoice that can be authorized.
Order Level Tax	The tax amount added in the customer order or release number, for the selected release.
Order Level Charges	The charges added in the customer order or release number, for the selected release.
Order Level Discount	The discounts added in the customer order or release number, for the selected release.
Invoice Level Tax	The tax amount added in the invoice.
Invoice Level Charges	The charges added in the invoice.
Invoice Level Discount	The discounts added in the invoice.
Basic Value	Material + Labor + Facility + Repair Charges + Additional Charges + Miscellaneous Charges
Total Tax	Order Level Tax + Invoice Level Tax
Total Charges	Order Level Charges + Invoice Level Charges
Total Discount	Order Level Discount + Invoice Level Discount
Total Value	(Basic Value + Total tax + Total Charges) - Total Discount
Delivery Area	The Delivery Area specified in the Customer Order, where the parts or aircraft must be handed
	over after repair.

The “Order Level T/C/D Information” multiline displays the following.

T/C/D	Indicates whether tax, charge or discount is calculated for the part in the line.
T/C/D On	The entity that is taxed, charged or discounted. The system displays one of the following values: Document, Material and Resource.
T/C/D #	The code identifying the tax, charge or discount based on the value set in the “TCD” field in TCD processing in Initiate invoice process Note: The tax, charge or discount in the Invoice level TCD information multilne must be applied only once either at the “Document Level” or at the “Line Level”.
Variant #	The code identifying the item, tax, charge or the discount variant.
Description	A description of the code identifying the tax, charge or discount or the variant.
Taxable Amount	The amount for which the tax, charge or discount must be calculated for the invoice or the line number.
T/C/D Rate	The unit rate of the tax, charge or discount selected in the Initiate Invoice process..
T/C/D Amount	The amount that will be the tax, charge or discount for the part available in the line.
Currency	The Currency in which the T/C/Ds is computed as specified are processed in the invoice.

Modify the following fields if required in the “Order Level T/C/D Information” multiline:

Cost Center	The code identifying the cost center that has been mapped to the “TCD Account”. The cost center must have been defined in the “Create Cost Center Element” activity of the “Cost Setup” business component.
	Help facility available
Analysis #	The analysis code to which the “TCD Account” is mapped to in the “Assign Analysis Code” activity of the “Account Based Budgeting” business component (Alphanumeric, 5).
	Help facility available
Sub Analysis #	The sub-analysis code to which the analysis code is mapped to in the “Assign Sub Analysis Code” activity of the “Account Based Budgeting” business component (Alphanumeric, 5).

Modify the following in the “Invoice Level T/C/D Information” multiline

T/C/D	Use the drop-down list box to indicate whether tax, charge or discount is being calculated for the part in the line . Mandatory.
T/C/D On	Use the drop-down list box to indicate the entity that is to be taxed, charged or discounted. The system displays the following values: Document, Material and Resource.
T/C/D #	The code identifying the part, tax, charge or the discount Mandatory (Alphanumeric, 10)..
Variant #	The code identifying the variant of the tax, charge or discount as shown in the T/C/D # field Mandatory (Alphanumeric, 10)..

The “Invoice Level T/C/D Information” multiline displays the following.

Description	A description of the code identifying the tax, charge or discount or the variant.
Taxable Amount	The amount for which the tax, charge or discount must be calculated for the invoice or the line number. This amount will be displayed when the “Compute” pushbutton is clicked.
T/C/D Rate	The unit rate of the tax, charge or discount selected.

Modify the following in the “Invoice Level T/C/D Information” multiline

T/C/D Amount	The amount that will be the tax, charge or discount for the part available in the line.
Currency	Use the drop-down list box to indicate the currency in which the tax, charges or discount must be computed.
Cost Center	The code identifying the cost center that has been mapped to the “TCD Account”. The cost center must have been defined in the “Create Cost Center Element” activity of the “Cost Setup” business component.
	Help facility available
Analysis #	The analysis code to which the “TCD Account” is mapped to in the “Assign Analysis Code” activity of the “Account Based Budgeting” business component (Alphanumeric, 5).
	Help facility available
Sub Analysis #	The sub-analysis code to which the analysis code is mapped to in the “Assign Sub Analysis Code” activity of the “Account Based Budgeting” business component (Alphanumeric, 5).

Click the “Compute” pushbutton to calculate the T/C/D amount.

The system calculates and displays the amount that is taxable and the amount that can be charged as TCD in the “Taxable Amount” and the “TCD Amount” fields.

The system also calculates and stores the TCD amount in the base currency of the company.

The system calculates and stores the total invoice amount as the difference of the invoice discount, sale order discount and the sum total of the line amount, invoice taxes and charges and sale order taxes and charges.

Ø Click the “Save” pushbutton to save the modifications made.

Posting Details

The system saves the TCD code along with the variant and the TCD amount in the transaction currency and debits the “TCD Account” when the “TCD Type” is “Tax” or “Charges”.
The system saves the TCD code along with the variant and the TCD amount in the transaction currency and credits the “TCD Account” when the “TCD Type” is “Discount”.
The system credits the TCD Amount in the “Customer Control Account” if it is lesser than zero and debits the TCD Amount if it is greater than zero.

Note: The total TCD Amount for the invoice is calculated as the sum of all TCD Amounts that have TCD Type as “Invoice Tax”, “Invoice Charge”, “SO Tax” or “SO Charge” less the sum of all TCD Amounts that have TCD Type as “Invoice Discount” and “SO Discount”.

Payment Schedule

The system generates a payment schedule after saving the modifications made to the tax, charge or discount details.

Payment Schedule for electronic payment

The system generates a payment schedule after saving the modifications made to the tax, charge or discount details and saves the bank details required for the Electronic Payment.
Click the “Save and Authorize pushbutton to save the modifications made to the TCD details and authorize the repair invoice.

Status Updation

The status of the debit / credit note is updated as “Authorized”.

Posting Details

The system saves the TCD code along with the variant and the TCD amount in the transaction currency and debits the “TCD Account” when the “TCD Type” is “Tax” or “Charges”.
The system saves the TCD code along with the variant and the TCD amount in the transaction currency and credits the “TCD Account” when the “TCD Type” is “Discount”.
The system credits the TCD Amount in the “Customer Control Account” if it is lesser than zero and debits the TCD Amount if it is greater than zero.

Payment Schedule

The system generates a payment schedule after the saving the modifications made to the tax, charge or discount details.

Payment Schedule for electronic payment

The system generates a payment schedule after saving the modifications made to the tax, charge or discount details and saves the bank details required for the Electronic Payment.

To proceed, carry out the following

Select the “Payment Schedule” link to see the details of the payment schedule.
Select the “Invoice Summary” link at the bottom of the page to view the details of the invoice.
Select the “Accounting Information” link at the bottom of the page to view the account posting details of the invoice.

Updating tax, charge or discount details – An overview

This page allows you to record (invoice level) tax, charge and discount at the invoice level for a service invoice in addition to the tax, charges and discount already applied at the order level. The TCD for a service invoice is computed at the document level or at Line. The TCD is calculated line wise if the item available in the line incurs some extra tax, charge or discount.

You can enter the code identifying the tax, charge, discount and the variants for the extra TCD that you want to add. You can also enter the TCD amount, the cost center to which the TCD account is mapped and the analysis and the sub analysis code allocated to it. The total TCD amount for the Service invoice is posted to the selected finance book under the various account heads in the account currency, base currency of the company and the parallel base currency of the company. A default payment schedule is generated and Tax is calculated taking into consideration the TCD amounts that have been entered.You can enter the code identifying the tax, charge, discount and the variants for the extra TCD that you want to add. You can also enter the TCD amount, the cost center to which the TCD account is mapped and the analysis and the sub analysis code allocated to it. The total TCD amount for the invoice is posted to the selected finance book under the various account heads in the account currency, base currency of the company and the parallel base currency of the company. A default payment schedule is generated and VAT is calculated taking into consideration the TCD amounts that have been entered.

The details of the TCD recorded in this page can be modified only for an invoice that has a “Draft” or “Fresh” status. When the status of the Service invoice becomes “Authorized”, you cannot modify T/C/D details.. The details of this Service invoice cannot be modified any longer.