|
|
|
|
This page allows you to modify the VAT calculated by the system when the voucher template is created. VAT is applicable only if the “VAT Applicable” parameter has been set to “Yes” at the company level. Tell me more..
Select the “VAT Calculation” link at the bottom of the “Edit Voucher” page.
The “VAT Calculation” page appears.
The system displays the following:
|
Template # |
The number identifying the voucher template. |
|
Transaction Date |
The date on which the voucher is transacted. |
|
Status |
The status of the voucher template, which must be “Active”. |
|
Currency |
The code identifying the currency in which the voucher template has been created. |
Modify the following field if required:
|
Exchange Rate |
The exchange rate of the base currency with respect to the transaction currency in case they are different (Decimal). Mandatory. The exchange rate must have been defined in the “Exchange Rate” business component. The exchange rate must be greater than zero. |
Note: The modified exchange rate must fall within the tolerance limit set in the “Exchange Rate” business component.
The system displays the following:
|
Finance Book |
The finance book to which the transactions are posted. |
Modify the following field if required:
|
Default VAT Category |
Use the drop-down list box to select the code identifying the VAT category. All the VAT Categories that have been defined for “Purchase” in the “VAT Setup” business component will be available for selection. |
|
Default VAT Class |
Use the drop-down list box to select code identifying the VAT class. All the VAT classes that have been mapped to the VAT categories that have been defined for “Purchase” will be available for selection. |
|
VAT Inclusive |
Use the drop-down list box to specify if the part amount is inclusive of the VAT charged. You can select from “Yes” or “No”. |
|
TCD Variant |
Use the drop-down list box to select the code identifying the variant of the tax/charge/discount that is vatable. |
The system displays the following:
|
Total Amount per VAT # |
The VAT amount corresponding to every VAT code. |
|
Total VAT Exclusive Amount |
The total amount that does not include the VAT charges. |
|
Total VAT Amount |
The total amount that has been calculated as VAT. |
|
Total VAT Inclusive Amount |
The total amount that has VAT included in it. |
The system displays the following in the “VAT Calculation” multiline:
|
VAT Line # |
The number of the row that contains the VAT charge. |
|
Ref Doc Line # |
The number of the row in the invoice that contains the Vatable aprt, tax or charge. |
|
Account # |
The code identifying the account based in which the amount is posted |
Modify the following fields if required:
|
Part / T / C / D # |
The code identifying the part, tax or charge that is vatable (Alphanumeric, 32). Mandatory. |
|
Variant |
The code identifying the variant of the aprt, tax or charge that is vatable (Alphanumeric, 8). |
|
VAT Category |
Use the drop-down list box to select the category to which the VAT belongs. All the VAT Categories that have been defined for “Purchase” in the “VAT Setup” business component will be available for selection. |
|
VAT Class |
Use the drop-down list box to select the class to which the VAT belongs. . All the VAT classes that have been mapped to the VAT categories that have been defined for “Purchase” will be available for selection. |
|
TCD Variant |
Use the drop-down list box to select the code identifying the variant of the tax/charge/discount that is vatable. |
The system displays the following in the “VAT Calculation” multiline:
|
VAT Rate (%) |
The unit rate of the VAT that has been charged. |
Modify the following fields if required:
|
Input VAT Deductible % |
The percentage of VAT that can be deducted (Integer). Mandatory. The value entered in this field must be between 1 and 100. |
|
VAT Inclusive |
Use the drop-down list box to specify if the part, tax, charge or the discount amount is inclusive of the VAT charged. You can select from “Yes” or “No”. |
The system displays the following in the “VAT Calculation” multiline:
|
Part Amount |
The amount of individual part for which a voucher has been created. |
|
VAT Amount (Tran Currency) |
The VAT amount in the currency in which the voucher has been created. |
|
Corrected VAT Amount (Tran Currency) |
The VAT amount after the modifications have made manually. This amount is in the currency in which the voucher has been created. |
|
VAT Amount (Base Currency) |
The VAT amount in the base currency of the company. |
|
Corrected VAT Amount (Base Currency) |
The VAT amount after the modifications have been made manually. This amount is in the base currency of the company. |
|
Description |
The description of the VAT code. |
Note: If you have checked the box beside the “Capitalize non-deductible charges” field you will have to click the “Recompute VAT” pushbutton to calculate VAT again.
Click the “Recompute VAT” pushbutton to calculate the VAT after modifications have been made.
The system calculates the VAT charges.
Click the “Save” pushbutton to save the modifications made.
The system calculates and saves the VAT charges based on the modifications made.
To proceed carry out the following
If VAT is applicable, select the “VAT Postings” link at the bottom of the page to post the VAT details.
If Swiss pay modes are applicable, select the “Payment Information” link at the bottom of the page to add electronic payment mode information.
Select the “Attach Notes” link at the bottom of the page to add notes.
Modifying VAT calculations – An overview
You can modify the VAT charges if the template is in the “Active” status. You cannot modify the VAT charges if the voucher template is in the “Inactive” status. You can modify the exchange rate and calculate VAT charges after modifying the VAT category and the VAT class. The system apportions the VAT charges calculated for the voucher for the individual parts for which VAT is applicable. You can modify the apportioned amount or retain the original apportioned amount. The system also calculates and displays the VAT amount and the corrected amount in the currency in which the voucher was created and also in the base currency of the company.
Set whether the part amount is inclusive of VAT
Retain system distributed VAT charges and Discount
You can modify the exchange rate of the transaction currency with respect to the base currency of the company if they are different. The modified exchange rate must fall within the tolerance set for the exchange rate in the “Exchange Rate” business component.
Enter the modified exchange rate in the “Exchange Rate” field.
Set whether the part amount is inclusive of VAT
The unit rate of the part would include the VAT applicable for the part. There could also be some cases when the part rate does not include the applicable VAT.
Select “Yes” in the “VAT Inclusive” field if the part amount is inclusive of VAT.
Select “No” in the “VAT Inclusive” field if the part amount is not inclusive of VAT.
Retain system distributed VAT charges and Discount
The system apportions the VAT calculated during the creation of the payment voucher to the various parts available. You can modify this VAT amount and also the discount that has been apportioned. After modification if you still want to retain the system apportioned VAT amount and discount the system offers you the facility to do so.
Check the box available beside the “Capitalize non-deductible charges” field if you want to retain the system distributed VAT charges and discount.
The modified charges and discounts must be calculated to get the final VAT amount for the voucher template.
Click the “Compute VAT” pushbutton to recalculate the VAT amount and discount.