Thanks for the detailed explanation....
-----Original Message-----
From: bpcs-l-bounces@xxxxxxxxxxxx [mailto:bpcs-l-bounces@xxxxxxxxxxxx] On
Behalf Of Margareth Sere
Sent: Friday, June 17, 2011 8:00 AM
To: BPCS ERP System
Subject: Re: [BPCS-L] ACP500D2 screen
Also in the Tax Rate Code Maintenace there is a field "VAT Nondeductible
Percentage". As this field is mentioned in the VAT Treatment as I
copied-paste earlier, here's the help explanation of this field as well:
VAT Nondeductible Percentage, Tax Rate Code Maintenance
Numeric, four decimal points. You can use this option to set up the
percentage of the taxable amount for which the VAT amount is nondeductible.
Valid values are 0.0000-100.0000.
The Vendor Invoice Posting and Recurring Payable Post applications use this
option to calculate deductible and nondeductible VAT. The Vendor Invoice
Entry application provides the ability to treat the entire invoice with
nondeductible VAT when you select the Tax Nondeductible box on the Vendor
Invoice Posting window. Following is an example of how the VAT Nondeductible
Percentage option works with the Tax Nondeductible option.
Vendor Invoice Entry ZRC File
ATX File
Invoice Header VAT Tax Rate Code VAT
A/P Tax History VAT
Nondeductible Check Box Nondeductible Percentage
Nondeductible Note
Off 0
Off
On ignored
On Applies to all records of the
invoice at 100%
On ignored
On Applies to all records of the invoice at 100%
Off o
On Applies only to records that have a Tax Rate Code with the VAT
Nondeductible Percentage greater than 0.
Note that when the invoice header has the VAT Nondeductible check box "on",
the application does not check the Vat Nondeductible Percentage in the Tax
Rate Code Table. Nondeductible VAT applies to all invoice records at 100
percent.
The CEA ATP engine posts VAT Nondeductible amounts using the macro SDPACS29.
For more information you can refer to the ATP Configuration Guide.
The deductible and nondeductible tax amounts are calculated as follows:
(Taxable Amount x VAT Nondeductible Percentage) = Nondeductible Taxable
Amount
(Nondeductible Taxable Amount X Tax Rate Percentage) = Nondeductible Tax
Amount
If the Percentage is set to 100.0000, the entire invoice line is
nondeductible. If the Percentage is less than 100.0000, the difference is
considered as deductible. You can use function when you have to post a
vendor invoice with partially nondeductible VAT at invoice or invoice line
level.
For example:
Vendor Code: 5000
Currency Code: ITL
Invoice Taxable Amount: 1,598.00 Invoice Tax Amount: 304.00
The ACP setup is the following:
Vendor Code: 5000
Currency Code: ITL Rounding Method: I Round to Position:
100
Tax Rate Code: VND95 Tax Rate: 19.0000% VAT Nondeductible %:
60.0000
You enter a line with the amount of 1598.00 in the Invoice Entry
Distribution window.
When you post the Vendor Invoice either through the Vendor Invoice or
Recurring Payable Positing applications, the taxable amount entered is split
according to the VAT Nondeductible Percentage setup in the Tax Rate Code
attached to the Tax Rate table used for each invoice line as follows:
Taxable Amount (amount entered in the first line of Vendor Invoice
G/L distribution window) Tax Rate Code VAT Nondeductible % VAT
Deductible % Taxable
Amount before Rounding Taxable Amount Rounded Tax Rate % Tax Amount 1,590.00
VND95 60.00 958.80 959.00 19.000 183.00 VND95 40.00 639.00 19.000 121.00
Totals 1598.00 304.00 The A/P Tax History file is updated as follows:
Vendor Doc. Prefix Document Sequence Taxable Amount Tax Rate Code Tax
Nondeductible Flag Tax Rate % Tax Amount 5000 AA 1 959.00 VND95 On 19.000
183.00 5000 AA 1 639.00 VND95 19.000 121.00
Hope all these helps.
Regards,
Margie
On Fri, Jun 17, 2011 at 9:53 AM, Margareth Sere <margiesere@xxxxxxxxx>wrote:
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
__________________________________________________________________________
K.Rajesh Kamath | Functional Consultant-BPCS | M: +91-9448309064,
91-9686681312
ITTI Pvt. Ltd. | Santosh Complex, Armugam Circle | Basavanagudi |
Bangalore-
560 004 | INDIA
T: +91-80-4110 2525 (Ext. 105) | F: +91-80-4110 2571 |
<http://www.itti.com/> www.itti.com
<http://www.itti.com/erp-home.asp> ERP |
<http://www.itti.com/application_support.asp> Application Development &
Maintenance | <http://www.itti.com/eisg.asp> Infrastructure Management
"Don't fear for facing failure in the First Attempt, Bocz, Even the
Successfull match starts with zero"
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