Adding tax, charge, discount details
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This page allows you to enter the tax, charge and the discount details of the invoice. Tell me more
Select the “T/C/D” link at the bottom of the “Authorize Invoice” page.
The “Tax / Charge / Discount” page appears.
The system displays the following:
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Invoice # |
The unique number identifying the invoice. |
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Status |
The status of the invoice. It could be “Fresh”. |
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Enter the following fields:
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T/C/D Computation |
Use the drop-down list box to select the method in which the tax, charge or discount can be calculated from “Document” and “Line ”. |
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The system displays “Blank” by default on launch of the page. |
Note: If “Document” is selected the system displays the total invoice amount in the invoice currency in the “Line Amount” field. If “Line Item” is selected the system displays the amount invoiced for the line item in the invoice currency in the “Line Amount” field and generates line numbers in which the “Part” is available.
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Line # |
Use the drop-down list box to select the number identifying the line in which the part details appear in the invoice. Sequential numbers will be available for selection based on the rows in which the part details are available. The system leaves the field blank by default on launch of the page. |
Note: This field must not be left blank if “Line ” has been selected in the “T/C/D Computation” field.
The system displays the following:
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Line Amount |
The invoice amount or the line amount. |
Note: If “Line ” is selected in the “T/C/D Computation” field the amount for the selected line number will be displayed in the invoice currency. If “Document” is selected in the “T/C/D Computation” field the total invoice amount will be displayed in the invoice currency.
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Part / T/C/D # |
The code identifying the part, tax, charge or the discount. |
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Part/T/C/D Variant # |
The code identifying the part, tax, charge or the discount variant. |
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Description |
A textual description of the code identifying the part, tax, charges or discount. |
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Zoom facility available |
Enter the following fields in the “T/C/D Information” multiline:
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T/C/D |
Use the drop-down list box to indicate whether tax, charge or discount is being calculated for the item in the line. You can select from “Invoice Tax”, “Invoice Charge” or “Invoice Discount”. The system leaves the field blank by default on launch of the page. |
Note: One type must be selected in at least one row of the multiline.
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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 |
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Help facility available |
Note:. The tax, charge or discount must be applied only once either at the “Document Level” or at the “Line Level”.
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Variant # |
The code identifying the variant of the tax, charge or discount (Alphanumeric, 10). Mandatory. This variant must be a valid one 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:
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Description |
A description of the code identifying the tax, charge or discount or the variant. |
Enter the following field in the “T/C/D Information” multiline:
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T/C/D Amount |
The amount that will be the tax, charge or discount for the item 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.
The system displays the following:
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Taxable Amount |
The amount for which the tax, charge or discount must be calculated in the invoice or the line number. This amount will be displayed when the “Compute” pushbutton is clicked. |
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T/C/D Rate |
The unit rate of the tax, charge or discount selected. |
Enter the following fields in the “T/C/D Information” multiline:
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Currency |
Use the drop-down list box to select the code identifying the currency from the invoice currency and the base currency that is available in the alphabetical order. The system displays the invoice currency by default on launch of the page. |
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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 “Cost Setup” business component. |
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Help facility available | |
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Analysis # |
The analysis code to which the “TCD Account” is mapped to in the “Account Based Budgeting” business component (Alphanumeric, 5). |
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Help facility available | |
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Sub Analysis # |
The sub-analysis code to which the analysis code is mapped to in the “Account Based Budgeting” business component (Alphanumeric, 5). |
Check the box in the “Select” column of 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 in case it is different.
The system calculates and stores the total invoice 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.
Status Updation
The status of the invoice is updated as “Draft”
if the box in the “Draft” field has been checked and
If the electronic payment details have not been added for the invoice.
The status of the invoice is updated as “Fresh”.
Posting Details
The system saves the invoice number, the invoice date, the exchange rate and the finance book in which the posting must be made.
The system saves the TCD code along with the variant and the TCD amount in the account currency and debits the “TCD Account” when the “TCD Type” is “Invoice Tax” or “Invoice Charges”.
The system saves the TCD code along with the variant and the TCD amount in the account currency and credits the “TCD Account” when the “TCD Type” is “Invoice Discount”.
The system saves the total part revenue amount in the account currency and debits the customer control account details in the “Item Revenue Account”.
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” or “Invoice Charge” less the sum of all TCD Amounts that have TCD Type as “Invoice Discount”.
VAT Details
The system calculates VAT in case VAT is applicable for the item that has been invoiced. The system saves the amount collected as VAT and the amount collected as charges and discount in the invoice 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”.
Payment Schedule
The system generates a payment schedule for the invoice based on the tax, charge and discount details in case “Swiss Pay Modes Applicable” has been set to “No” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component.
Payment Schedule for electronic payment
The system generates a payment schedule based on the tax, charge and discount details and saves the bank details required for the Electronic Payment in case “Swiss Pay Modes Applicable” has been set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component.
Click the “Save and Authorize” pushbutton to save the tax, charge and discount details that have been entered and authorize the invoice.
Status Updation
The status of the invoice is updated as “Authorized”.
Posting Details
The system saves the invoice number, the invoice date, the exchange rate and the finance book in which the posting must be made.
The system saves the TCD code along with the variant and the TCD amount in the account currency and debits the “TCD Account” when the “TCD Type” is “Invoice Tax” or “Invoice Charges”.
The system saves the TCD code along with the variant and the TCD amount in the account currency and credits the “TCD Account” when the “TCD Type” is “Invoice Discount”.
The system saves the total part revenue amount in the account currency and debits the customer control account details in the “Part Revenue Account”.
The system credits the TCD Amount in the “Customer Control Account” if it is lesser than zero and debits the TCD Amount in the “Customer Control Account” 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” or “Invoice Charge” less the sum of all TCD Amounts that have TCD Type as “Invoice Discount”.
VAT Details
The system calculates VAT in case VAT is applicable for the item that has been invoiced. The system saves the amount collected as VAT and the amount collected as charges and discount in the invoice 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”.
Payment Schedule
The system generates the default payment schedule for the invoice based on the tax, charge and discount details in case “Swiss Pay Modes Applicable” has been set to “No” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component.
Payment Schedule for electronic payment
The system generates a default payment schedule based on the tax, charge and discount details and saves the bank details required for the Electronic Payment in case “Swiss Pay Modes Applicable” has been set to “Yes” in the “Set Common Parameters” activity of the “Company Parameter Setup” business component.
Click the “Return Invoice” pushbutton to return the invoice.
The system updates the login ID of the user and the system date in “Last Modified By” and “Last Modified Date” fields.
Status Updation
The status of the invoice is updated as “Returned”.
To proceed, carry out the following
If Swiss pay modes are not applicable for the company, select the “Payment Schedule” link at the bottom of the page to view or modify the details of the payment schedule.
Select the “Adjustment” link at the bottom of the page to select the documents against which the invoice amount must be adjusted.
If Swiss pay modes are applicable for the company, select the “Payment Information” link at the bottom of the page to view or modify the payment information details.
If VAT is applicable for the company, select the “VAT Calculation” link at the bottom of the page to calculate the VAT applicable for the invoice.
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 posting details of the invoice amount.
Adding tax, charge, discount details – An overview
TCD of an invoice is calculated for the document that is the invoice as a whole or for the line in which the item appears in the invoice. The TCD is usually calculated line wise if the part available in the line incurs some extra tax, charge or discount.
You can enter the code identifying the tax, charge, discount and the variants. You can also enter the TCD amount, the cost center to which the TCD account is mapped to 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 the 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 invoice remains in the “Draft” or “Fresh” status. This page also allows you to authorize the invoice. The status of the invoice is updated as “Authorized”. The details of this invoice cannot be modified any longer.
Calculate TCD in different levels
Calculate TCD in different levels
Tax, Charge and discount can be calculated in two different levels. You can calculate the TCD for the invoice document or at the line / item level.
Set the “TCD Computation” field to “For Document” to calculate the TCD for the invoice as a whole.
Set the “TCD Computation” field to “For Line Item” to calculate the TCD for each individual row of the invoice in which an item is available.
You can enter the tax, charge or discount values for the invoice or the items 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.