Re: ACP500D2 screen

[Margareth Sere <margiesere@xxxxxxxxx>]

Hi,
According to help:

Select this option to indicate that the tax is nondeductible. The tax is
then listed as nondeductible in the tax history files and can be reported
separately. Deductible tax processing takes priority over tax lag
processing.
De-select the option for tax to be processed as deductible
Here's more explanation for VAT:

Value Added Tax (VAT) Treatment
The Invoice Entry application lets you treat an entire invoice with
nondeductible VAT. In the Tax Rate Code application, enter the percentage of
the taxable amount that is treated as nondeductible VAT. Then, select the
Tax Nondeduct option on Invoice Entry - B window. BPCS calculates VAT based
the selections you made in both of these applications.
· When the VAT Nondeductible check box is turned on, the Invoice Entry
application does not check the VAT Nondeductible percentage in the Tax Rate
Code application. The nondeductible VAT is applied to the invoice at 100
percent.
· When the VAT Nondeductible check box is turned off, the Invoice Entry
application checks the VAT Nondeductible percentage in the Tax Rate Code
application. The nondeductible VAT is applied only to invoice records that
have a Tax Rate Code with VAT Nondeductible percentage greater than 0. If
the percentage is 0, then no tax is applied.

Suggest you discuss with accounting regarding taxes/vat with the above info
as they can easily understand its meaning.


Regards,
Margie
On Thu, Jun 16, 2011 at 8:45 PM, Rajesh.Kamath <rajesh.kamath@xxxxxxxx>wrote:

> Hi,
>
>
>
> There is one field called "Tax Nondeduct     0  0=No, 1=Yes' in ACP500D2
> screen. Can any brief me about the functionality of this.
>
>
>
> Thanks & Regards
>
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