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This activity allows you to create a tax journal voucher. Tell me more.
Select the “Create Tax Journal” link under the “Tax Book Processing” business component.
The “Create Tax Journal” page appears.
The system displays the following in the “Voucher Information” group box:
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Status |
The status of the voucher. It must be “Authorized”. |
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Enter the following fields in the “Voucher Information” group box:
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Voucher No |
A unique number identifying the voucher (Alphanumeric, 18). Mandatory. This number is generated and displayed by the system, when the “Create Voucher” pushbutton is clicked. The number is displayed with the corresponding prefix and suffix of the numbering type selected in the “Numbering Type” field. The number is incremented from the last number available in the “Document Numbering Class” business component. |
Note: This field must not be left blank if “Manual” is selected in the “Numbering Type” field.
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Transaction Date |
The date on which the voucher is posted in the tax book (Date Format). Mandatory. This date must be valid in an “Open” tax period and must not be later than the system date. The system date is displayed by default at the launch of the page. |
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Tax Book |
Use the drop-down list box to select the code identifying the tax book in which the tax journal must be posted. All the tax books that are available in the login organization unit will be available for selection in the ascending order. |
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Numbering Type |
Use the drop-down list box to select the numbering type for the login organization unit and the “Tax Journal Voucher” transaction type. The numbering types must have already been defined in the “Create Numbering Class” activity of the “Document Numbering Class” business component and must be in “Active” status. The system displays the numbering type set as default for the transaction in the “Document Numbering Class” business component. |
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Remarks |
Any observations pertaining to the creation of the tax voucher (Alphanumeric, 255). |
Enter the following fields in the “Accounting Information” multiline:
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Account Code |
The code identifying the account in which the voucher must be posted (Alphanumeric, 32). Mandatory. The account codes must have been created in the “Create Operative Chart of Accounts” activity of the “Accounting Setup” business component and must be in the “Active” status. The account codes must have been mapped to the respective finance book corresponding to the Tax book selected in the “Attach/Detach Operative Chart of Accounts” business component. |
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Press <Enter> key. | |
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The system retrieves and displays the corresponding currency in the “Transaction Currency” field. | |
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Help facility available |
Note: The account code entered in this field must not be included in the “Maintain Posting Rule” activity of the “Accounting Setup” business component.
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Dr / Cr |
Use the drop-down list box to set whether you want to debit or credit the voucher amount in the account. You can select either “Dr” (Debit) or “Cr” (Credit). The system displays “Dr” by default at the launch of the page. |
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Transaction Currency |
Use the drop-down list box to select the code identifying the currency in which the voucher is to be created. All the currencies that have been mapped to the company will be available for selection in the ascending order. The system displays the base currency of the company by default at the launch of the page. |
Note: The transaction currency must be the same as the account currency if the account currency is different from the base currency of the company. The transaction currency can be different if the account currency is the same as the base currency of the company.
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Transaction Amount |
The amount that is to be debited or credited in the account in the transaction currency (Decimal). Mandatory. The amount entered in this field must be equal to or greater than zero. |
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Exchange Rate |
The exchange rate of the transaction currency with respect to the base currency of the company in case they are different (Decimal). “1” (one) will be displayed if the voucher currency and the base currency are the same. The value entered in this field must be greater than zero and must fall within the tolerance limit set in the “Exchange Rate” business component. |
The system displays the following:
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Base Amount |
The voucher amount in the base currency of the company. This base amount is the product of the transaction amount and the exchange rate. |
Enter the following field in the “Accounting Information” multiline:
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Remarks |
Any observations pertaining to the posting of the voucher in the account (Alphanumeric, 255). |
Click the “Compute Totals” pushbutton to calculate the debit / credit totals of the transaction amount and the base amount.
The system calculates the base amount and the debit / credit totals of the transaction and the base amount.
The system displays the following:
Transaction Amount
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Debit Total |
The sum total of all the amounts in the voucher currency that is to be debited. |
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Credit Total |
The sum total of all the amounts in the voucher currency that is to be credited. |
Note: The debit total must be equal to the credit total for all the account codes for all the amounts entered in the transaction currency if the transaction currency for all the account codes is the same.
Base Amount
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Debit Total |
The sum total of all the amounts in the base currency that is to be debited. |
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Credit Total |
The sum total of all the amounts in the base currency that is to be credited. |
Note: The debit total must be equal to the credit total for all the account codes for all the amounts in the base currency.
Click the “Create Voucher” pushbutton to create a voucher for the tax journal.
The system automatically generates a voucher number if “Manual” numbering type has not been selected.
The system updates the status of the voucher as “Authorized” and posts the financial entries in the selected tax book.
The system displays the following:
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Created By |
The login ID of the user who created the tax voucher. |
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Created Date |
The date on which the tax voucher was created. |
To proceed, carry out the following
Select the "Attach Notes" link at the bottom of the page to record observations regarding the tax journal.
What you can do in this activity
Tax journal vouchers are created to post details that have tax implications in the appropriate account as per the income tax requirements. A tax journal can be posted in accounts that are open for tax transactions.
Go to “Create Tax Journal” page.
Enter the necessary information.
The currency of the tax journal voucher can be different from the base currency of the company. The exchange rate of the currencies can be modified in a way that it does not exceed the tolerance limit set in the “Exchange Rate” business component.
Go to “Create Tax Journal” page.
Modify the exchange rate if required.
The voucher amounts are debited or credited in the appropriate accounts. The system calculates the sum total of the amounts in the transaction currency and in the base currency based on whether the amount is debited or credited in the account.
Go to “Create Tax Journal” page.
Calculate the debit and credit totals in the base currency and the transaction currency.