Modifying tax, charge or discount details

This page allows you to enter any additional tax, charge and discount details for the debit / credit note apart from the taxes, charges or discounts (TCD) available in the preceding document which could be a customer order or a purchase order etc. Tell me more.

Select the “T/C/D” link at the bottom of the “Create Item Based Note” page.

The “Tax / Charge / Discount” page appears.

The system displays the following:

Note #	The number identifying the debit / credit note.
Status	The status of the debit / credit note. It could be “Draft” or “Fresh”.
	Draft – indicates a newly created debit / credit note that cannot be authorized.
	Fresh – indicates a newly created debit / credit note that can be authorized.

Enter the following fields:

T/C/D Computation	Use the drop-down list box to select the method in which the tax, charge or discount must be calculated. You can calculate the tax, charge or discount “For Document” or “For Line Part”.
	For Document – indicates that the tax, charge or discount is calculated for the debit / credit note as a whole.
	For Line Part – indicates that the tax, charge or discount is calculated for each individual row of the debit / credit note.
	The system displays “Blank” by default on launch of the page.

Note: If “For Document” is selected the system displays the total debit / credit amount in the transaction currency in the “Line Amount” field. If “For Line Part” is selected the system displays the amount charged for the line part in the transaction currency in the “Line Amount” field and generates line numbers in which the “Part” is available.

Line #

Use the drop-down list box to select the number identifying the line in which the part details appear in the debit / credit note. Sequential numbers will be available for selection based on the rows in which the part details are available. The system displays “Blank” by default on launch of the page.

Note: This field must not be left blank if “For Line Part” has been selected in the “T/C/D Computation”

The system displays the following:

Line Amount

The debit / credit note amount or the line amount.

Note: If “For Line Part” is selected in the “T/C/D Computation” field the amount for the selected line number will be displayed in the transaction currency.

If “For Document” is selected in the “T/C/D Computation” field the total debit / credit note amount will be displayed in the transaction currency.

Part / T / C / D #	The code identifying the part, tax, charge or the discount.
Part / T / C / D Variant	The code identifying the part, tax, charge or the discount variant.
Description	A textual description of the code identifying the part, tax, charges or discount.

Modify the following fields if required in the “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. You can select from “Tax”, “Charge” or “Discount”. The system displays “Blank” by default on launch of the page.

Note: One type must be selected in at least one row of the multiline.

T/C/D #	The code identifying the tax, charge or discount based on the value set in the “T/C/D” field (Alphanumeric, 10). Mandatory. This code must have been defined in the “Create Tax / Charge / Discount Code” activity of the “Taxes / Charges / Discounts” business component and must be in “Active” status. The code entered in this field must be unique for the individual line
	Help facility available

Note: The tax, charge or discount must be applied only once either at the “Document Level” or at the “Line Level”.

Variant

The code identifying the variant of the tax, charge or discount (Alphanumeric, 10). Mandatory. This variant must be valid for the code entered in the “T/C/D #” field.

Note: This field must not be left blank if a T/C/D code is entered in the “T/C/D #” field”.

The system displays the following in the “T/C/D Information” multiline:

Description	A description of the code identifying the tax, charge or discount or the variant.
TCD Rate	The unit rate of the tax, charge or discount selected.

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

Taxable Amount

The amount for which the tax, charge or discount must be calculated for the debit / credit note or the line. This amount will be displayed when the “Compute” pushbutton is clicked.

You can modify the Taxable Amount, only if the process parameter “Allow Modification of taxable amount in Customer Item Based Note” is set as “Yes” under the Category “Customer Debit Credit Note” in the “Set Finance Process Parameters” activity of the “OU Parameter Setup” business component.

T / C / D Amount

The amount that will be the tax, charge or discount for the part available in the line.

Note: This field must not be left blank if tax, charge or discount has been selected in the “T/C/D” field.

Currency	Use the drop-down list box to select the code identifying the currency from the transaction currency and the base currency that is available in the alphabetical order. The system displays the transaction currency by default on launch of the page.
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 / Unit ” 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).

Check the box in the multiline to mark a tax, charge or discount for deletion.

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 debit / credit note amount as the difference of the discount and the sum total of the line amount, taxes and the charges.

Click the “Save” pushbutton to save the tax, charge and discount details that have been entered.

Financial 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 “Tax” or “Charge” less the sum of all TCD Amounts that have TCD Type as “Discount”.

VAT Details

The system calculates VAT if “VAT Applicable” has been set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component. VAT is calculated if the part for which the debit / credit note has been raised incurs VAT. The system saves the amount calculated as VAT in the debit / credit note currency and in the base currency of the company along with the debit or credit identifiers and the cost center, analysis and sub-analysis code details in the corresponding “VAT Account”.

Tax Details

The system calculates the tax automatically and updates the status to "Fresh".If the tax calculation is incomplete then the status is "Draft".

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.

Click the “Save and Authorize” pushbutton to save the tax, charge and discount details that have been entered and authorize the debit / credit note.

Status Update

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.

VAT Details

The system calculates VAT if “VAT Applicable” has been set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component. VAT is calculated if the part for which the debit / credit note has been raised incurs VAT. The system saves the amount calculated as VAT in the debit / credit note currency and in the base currency of the company along with the debit or credit identifiers and the cost center, analysis and sub analysis code details in the corresponding “VAT Account”.

Tax Details

The system calculates the tax automatically and updates the status to "Fresh".If the tax calculation is incomplete then the status is "Draft".

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.

The system then sends the debit/credit note details to the “Customer Inquiry” business component.

To proceed, carry out the following

Select the “Adjustment” link at the bottom of the page to select documents against which the debit / credit note must be adjusted.

If Swiss pay modes are not applicable for the company, select the “Payment Schedule” link at the bottom of the page to modify the default payment schedule.

If VAT is applicable for the company, select the “VAT Calculation” link at the bottom of the page to modify the VAT that has been calculated.

Select the “Note Summary” link at the bottom of the page to view the summary of a debit / credit note.

Select the “Accounting Information” link at the bottom of the page to view the account posting information.

Select the “Attach Notes” link at the bottom of the page to add observations or comments regarding the debit / credit note.

Modifying tax, charge or discount details – An overview

TCD of a debit / credit note is calculated for the document that is, the debit / credit note as a whole or for the line in which the part appears in the debit / credit note. The TCD is usually calculated line wise if the part available in the line incurs some extra tax, charge or discount.

The system retrieves the existing tax, charge or discount details. 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 debit / credit note 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 that are entered in this page can be modified as long as the debit / credit note remains in the “Draft” or “Fresh” status. This page also allows you to authorize the debit / credit note. The status of the debit / credit is updated as “Authorized”. The details of this debit / credit note cannot be modified any longer and are then sent to the “Customer Inquiry” business component.

What you can do in this page

Calculate TCD in different levels

Set Tax, Charge or Discount

Authorize debit / credit note

Calculate TCD in different levels

Tax, Charge and discount can be calculated in two different levels. You can calculate the TCD for the debit / credit note document as a whole or at the line / part level.

Set the “TCD Computation” field to “For Document” to calculate the TCD for the debit / credit note as a whole.

Set the “TCD Computation” field to “For Line Part” to calculate the TCD for each individual row of the invoice in which a part is available

Set Tax, Charge or Discount

You can enter the tax, charge or discount values for the debit / credit note or the parts in any row of the multiline.

Set the “T/C/D” field to “Tax” to enter the tax value.

Set the “T/C/D” field to “Charge” to enter any extra charges that have been incurred.

Set the “T/C/D” field to “Discount” to enter the discount that is applicable for the customer.

Authorize debit / credit note

You can authorize the debit / credit note while saving the modified TCD details.

Click the “Save and Authorize” pushbutton to save the TCD details and authorize the debit / credit note.

The system saves the TCD details and updates the status of the debit / credit note as “Authorized”. If a debit note is being created the system generates a default payment schedule based on the pay term defined for the customer and the modified TCD. The details of the debit / credit note are then sent to the "Customer Inquiry" business component.