Updating tax, charge or discount details

This page allows you to enter any additional (invoice level) tax, charge and discount details for the prepayment invoice apart from the existing ones (order level T/C/D). Tell me more.

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

The “Tax / Charge / Discount” page appears.

The system displays the following:

Invoice No.	The number identifying the prepayment invoice.
Currency	The invoice currency that is defined in the Create Invoice page
Status	The status of the invoice. It could be “Draft” or “Fresh”. Draft – indicates a newly created prepayment invoice that cannot be authorized. Fresh – indicates a newly created prepayment invoice that can be authorized.
Order Level Tax	This field displays the amount of taxes quoted in the reference document, if Auto Default TCD from Order is set to Yes in the Set Function Defaults activity.
Order Level Charges	This field displays the amount of charges quoted in the reference document, if Auto Default TCD from Order is set to Yes in the Set Function Defaults activity.
Order Level Discount	This field displays the amount of discount quoted in the reference document, if Auto Default TCD from Order is set to Yes in the Set Function Defaults activity.
Invoice Level Tax	The sum total of line level and document level tax specified in in the Invoice Level TCD Information multiline.
Invoice Level Charges	The sum total of line level and document level charges specified in in the Invoice Level TCD Information multiline.
Invoice Level Discount	The sum total of line level and document level discount specified in in the Invoice Level TCD Information multiline.
Basic Value	The Basic Value as computed in Create Invoice page.
Total Tax	The sum total of Order Level and Invoice Level taxes.

Note: If value is set in the “Company Parameter Setup” business component as “Actuals” then actual tax amount is displayed without rounding off. If value is set as “Ceiling”, “Floor” or “Nearest” then actual tax amount is rounded off and displayed.

Example

The system displays the following:

Total Charges	The sum total of Order Level and Invoice Level charges
Total Discount	The sum total of Order Level and Invoice Level discount.
Total Value	The sum total of Basic Value, Total Taxe and Total Charges minus Total Discount.
Delivery Area	The delivery area as specified in the Create Invoice activity.
The system displays the following details in the “Order Level T/C/D Level Information” multiline:
T/C/D	Tax, Charges and Discount.
Line #	The number identifying the line in which the item, tax, charge or discount is available in the invoice.
TCD #	The code identifying the tax, charge or discount based on the value set in the “TCD” field
Variant #	The code identifying the item, tax, charge or the discount variant.
Description	The name / description of the tax, charge or discount or the variant.
Taxable Amount	The amount for which the tax, charge or discount must be calculated for the prepayment invoice or the line number.
TCD Rate	The unit rate of the tax, charge or discount selected.
TCD Amount	The amount that will be the tax, charge or discount for the item available in the line.
Currency	The code identifying the currency in which the prepayment invoice has been raised.
Enter the following details in the “Order Level T/C/D Level Information” multiline:
Cost Center	The code identifying the cost center that has been mapped to the “TCD Account”. Help facility available
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). 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).

Note: The Order level TCD Information multiline displays values only if the Auto Default TCD from Order flag is set to Yes in the Set Function Default activity.

Enter 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 must be calculated for the item in the line. You can select from “Invoice Tax”, “Invoice Charge”, “Invoice Discount”, “CO Tax”, “CO Charge” or “CO Discount”.
Line #	Use the drop-down list box to select the number identifying the line in which the item details appear in the prepayment invoice. Sequential numbers will be available for selection based on the rows in which the item details are available. To specify document level TCD, enter line# as 0.
Note: This field becomes mandatory if “For Line Item” is selected in the “TCD Computation” field..
T/C/D #	The code identifying the tax, charge or discount based on the value set in the “TCD” 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 have an “Active” status. You must specify a code that is unique for the individual line. Help facility available

Note: The tax, charge or discount in the Invoice Level TCD information multiline 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.

Note: This field must not be left blank if a TCD code is entered in the “TCD Code” field”.

The tax and variant number applicable “On Materials” and “On Resources” cannot be modified.

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

Description	The name / description of the tax, charge or discount or the variant.
Taxable Amount	The amount for which the tax, charge or discount must be calculated for the prepayment invoice or the line number. This amount is displayed when the “Compute” pushbutton is clicked.
TCD Rate	The unit rate of the tax, charge or discount selected.

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

TCD 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 “TCD” 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 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).
Note: The box must be left unchecked if you want to authorize the prepayment Check the box in the multiline to mark a tax, charge or discount for deletion. Click the “Compute” pushbutton to calculate the TCD amount. Note: If “Apply invoice level TCDs for order based docs. On” field in “Set Parameters – Receivable” of “OU Parameter Setup” business component is set as “Basic Value” then-invoice level TCD computation will be based on basic value on invoice, else computation will be based on basic value along with Order level taxes, Charges and Discount.

The system performs the following on creation of the invoice:

If the tax nature is “Payables” or “With-holding tax”, then the system updates the account wise data for the financial postings in “Finance Book Processing” business component.
If the tax nature is “Zero sum game”, then the system credits/debits the account details in the “Account Rule Definition” business component.

Note: Account Posting will not be performed, if the TCD amount is “0” for the TCD type “Tax”.

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 prepayment 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.

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 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 modifications made to the TCD details and authorize the prepayment invoice.

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.

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 at the bottom of the page to modify the payment schedule generated 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 account posting details of the invoice.

Updating tax, charge or discount details – An overview

This page allows you to enter any additional (invoice level) tax, charge and discount details for the prepayment invoice apart from the existing ones (order level T/C/D). TCD of a prepayment invoice is calculated at a document level or at Line level. Document level T/C/D’s are calculated by applying a percentage or some other basis on the entire(basic) value of the prepayment invoice. Line level T/C/D’s are calculated by applying some basis on individual items like Materials, Resources and Others. The TCD is usually 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 prepayment 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.

The details of the TCD that are entered in this page can be modified as long as the prepayment invoice remains in the “Draft” or “Fresh” status. This page also allows you to authorize the prepayment invoice. The status of the prepayment invoice is updated as “Authorized”. The details of this prepayment invoice cannot be modified any longer.