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This page allows you to modify the VAT calculated by the system when the repair invoice is created. Tell me more
Select the “VAT Calculation” link at the bottom of the “Create Invoice” page.
The “VAT Calculation” page appears.
The system displays the following:
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Invoice # |
The number identifying the repair invoice. |
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Transaction Date |
The date on which the repair invoice was raised. |
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Currency |
The code identifying the currency in which the repair invoice has been raised. |
Modify the following field:
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Exchange Rate |
The exchange rate of the base currency with respect to the transaction currency if 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. The system displays the exchange rate used in the invoice by default. |
Note: The modified exchange rate must fall within the tolerance limit set in the “Exchange Rate” business component.
The system displays the following:
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Finance Book |
The code identifying the finance book in which the repair invoice details are to be posted. |
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Vatable Charge |
The vatable portion of the document level charges in the invoice. |
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Non Vatable Charge |
The non-vatable portion of the document level charges in the invoice. |
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Doc Level Discount |
The document level discounts for the repair invoice. |
Modify the following fields:
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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. The system displays the default VAT category that has been defined. |
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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. |
Note: VAT Category and VAT class values will be defaulted based on the default values set in the “Supplier” master component.
If the values defaulted in the fields “Default VAT Category” and “Default VAT Class” of the header is modified, then the system changes the values in the corresponding fields of the multiline also.
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VAT Inclusive |
Check this box if the item amount is inclusive of the VAT charged. |
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Retain Initial Distribution |
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of Doc Charges / Disc |
Check this box if you want to retain the initial distribution of document level TCDs for VAT computation. |
Note: If you want to retain the initial distribution of document TCDs, check this box and click the “Recompute VAT” pushbutton available at the bottom of this page.
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VAT # |
Use the drop-down list box to select the code identifying the VAT code. All the VAT codes that are available for the various VAT line numbers will be available for selection. |
The system displays the following:
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VAT Amount per VAT # |
The VAT amount that has been calculated for the individual VAT code within the whole invoice. |
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Total VAT Exclusive Amount |
The total amount that does not include the VAT charges. |
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Total VAT Amount |
The total amount that has been calculated as VAT. |
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Total VAT Inclusive Amount |
The total amount that has VAT included in it. |
The system displays the following in the “VAT Calculation” multiline:
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VAT Line # |
The line number identifying the VAT charge. |
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Ref Doc Line # |
The number of the row in the invoice that contains the vatable item, tax or charge. |
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Part / T / C |
Indicates whether “Part”, “Tax” or “Charge” is available in the row. |
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Part / T / C # |
The code identifying the part, tax or charge that is vatable. |
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Variant # |
The code identifying the variant of the part, tax or charge that is vatable. |
Modify the following fields if required in the “VAT Calculation” multiline:
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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. |
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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. |
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Input VAT Deductible (%) |
The percentage of input VAT that is deductible (Integer). Mandatory. |
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VAT # |
Use the drop-down list box to select the code identifying the VAT. All the TCD variants that have been defined for “Swiss VAT” in the “Taxes / Charges / Discounts” business component will be available for selection. |
The system displays the following in the “VAT Calculation” multiline:
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VAT Rate (%) |
The percentage unit rate of the VAT that has been charged. |
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Part Amount |
The amount of individual part for which an invoice has been created. |
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Vatable Part Charge |
The invoice charges applicable on the individual part for which the VAT can be charged. |
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Non Vatable Part Charge |
The invoice charges applicable on the individual part for which the VAT is not charged. |
Modify the following fields if required in the “VAT Calculation” multiline:
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Vatable Distributed Charge |
The vatable document level taxes and charges apportioned for the individual line item (Decimal). |
Note: The document level charges are apportioned for the individual lines by the system for VAT computation.
The system displays the following in the “VAT Calculation” multiline:
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Part Level Discount |
The discount applicable for the individual part. |
Modify the following fields if required in the “VAT Calculation” multiline:
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Distributed Discount |
The document level discount apportioned to the individual line item (Decimal). |
The system displays the following in the “VAT Calculation” multiline:
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VAT Amount (Tran Currency) |
The VAT amount in the currency in which the repair invoice has been created. |
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VAT Amount (Base Currency) |
The VAT amount in the base currency of the company. |
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Description |
The description of the VAT code. |
Click the “Recompute VAT” pushbutton to calculate the VAT after modifications have been made.
The system recalculates the VAT charges.
Click the “Save” pushbutton to save the modifications made.
The system saves the VAT charges based on the modifications made.
Click the “Save and Authorize” pushbutton to save the modifications made and authorize the repair invoice.
The system calculates and saves the VAT charges based on the modifications made. The system also updates the status of the repair invoice as “Authorized”.
To proceed, carry out the following
Select the “VAT Postings” link at the bottom of the page to modify the VAT posting details.
Select the “Payment Information” link from the bottom of the page to enter payment information details.
Select the “Invoice Summary” link from the bottom of the page to view invoice summary.
Select the “Accounting Information” link from the bottom of the page to view account posting details.
Select the “Attach Notes” link from the bottom of the page to record observations pertaining to the invoice.
The system calculates and displays VAT amount based on the default values set in the “Supplier” master component and the “VAT Calculation” business component. These calculated values can be modified in this page. You can modify the VAT charges if the repair invoice is in the “Draft”, “Matched” or “Returned” status. You cannot modify the VAT charges if the repair invoice is in the “Authorized” status.
Certain predefined VAT adhoc items are defined for calculating VAT. They are: “Material”, “Labor”, “Misc”, “BERCost”, “ExchFee”, “EstRepCost” and “TotRepCost”.
You can modify the exchange rate and calculate VAT charges after modifying the VAT Category and the VAT Class. The system apportions the document level TCDs of the repair invoice for the individual items 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 invoice currency and also in the base currency of the company.
This page also allows you to authorize the repair invoice while saving the modifications made to the VAT. The system updates the status of the invoice as “Authorized”. The system also stores the login ID of the user and the system date along with the invoice details.
Set whether the item 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, for the purpose of calculating VAT postings. 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 item amount is inclusive of VAT
The unit rate / value of the item would include the VAT applicable for the part. There could also be some cases when the part rate does not include the applicable VAT.
Check the box available beside the “VAT Inclusive” field if the part amount is inclusive of VAT.
Retain system distributed VAT charges and Discount
The system apportions the document level TCDs during the creation of the invoice to the various items available. You can modify this distribution if you want to revert to the system apportioned VAT amounts and discounts the system offers you the facility to do so.
Check the box available beside the “Retain Initial Distribution of Doc Charges / Disc” 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 invoice.
Click the “Recompute VAT” pushbutton to recalculate the VAT amount and discount.
You can authorize the repair invoice while saving the modified VAT details.
Click the “Save and Authorize” pushbutton to save the VAT details and authorize the repair invoice.
The system saves the VAT details and updates the status of the repair invoice as “Authorized”.
“VAT Applicable” parameter must have been set to “Yes” at the company level.
VAT masters have been defined including the VAT group mapping for the predefined adhoc items.