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thanks all.
I think the simplest solution and it seems to work perfectly fine (at least in Canada) is the following:
Company is in Canadian Dollars
Supplier - tax exempt (Supplier is in a different currency)
GL Account for Custom Duties
Send a normal PO with the supplier price in his currency.
After receiving the PO, create a "Supplier Invoices'
Manually enter the Account for Custom Duties (note, it will need to be converted to the Supplier currency because the invoice follows the supplier currency, even thou the Invoice sent is normally already converted to either US or CAD dollars)
Manually enter the GST tax - also converted to the supplier currency.
system will display the "Sales Tax" at the bottom of the invoice, but it won't add twice.
Please folks correct me if I am making a mistake here and/or leading others to do something wrong.
Who should I talk to to find out more a potential partnership with frontaccounting? Any idea Joe?
thanks
Hi Joe,
thanks. I tried some options and it is not working. I read the wiki multiple times, but the final amount is not the proper one.
Is there a way that I can set up a Quick Entry, so when I create the Supplier Invoice I just have to enter the amount that is corresponding to the Import Tax amount which will be allocated to the Import Tax Account, and at the same time increase the base amount of the invoice, so when the system calculates GST, it will present the total based on the total items plus the quick entry that I described?
If there is another way that I can get help, please let me know. Without being able to log the import tax, I can't start using the system 
.
thanks
thanks Joe. Are you suggesting "Using Tax on already added Tax (Some Canadian Regions use this)" or "Import Tax"
I've tired "Import Tax" and for some reason it didn't work. Maybe, I am doing something wrong.
Hi all,
I need some help on setting up an import tax. Let’s say an item is $100.00, I need to setup an import tax of 5% and then on top of that I need to do the other taxes.
Import Tax Calculation:
$100 + 5% = $105.00
Provincial/Federal Tax:
Now, I can calculate the proper provincial/deferal tax
$105.00 + 13%GST/HST
Please any help / ideas are welcome!
Paul
Hi all,
I need some help on setting up an import tax. Let’s say an item is $100.00, I need to setup an import tax of 5% and then on top of that I need to do the other taxes.
Import Tax Calculation:
$100 + 5% = $105.00
Provincial/Federal Tax:
Now, I can calculate the proper provincial/deferal tax
$105.00 + 13%GST/HST
Please any help / ideas are welcome!
Paul
I can't figure how to setup the Canadian Import Tax on a foreign invoice. There are two scenarios 1: the duty percentage is the same for all items in the invoice. 2. The duty percentage changes based on the line item of the invoice.
For #1, I tried to follow the example described in the wiki, but it doesn't seem to work. The import tax needs to be calculated first and then apply the provincial/federal tax.
Let's say invoice $1000.00: Import Tax 5%, so the total of the invoice for tax purpose is $1050. Now, we apply the provincial/federal tax on top of it, so $1050 + 13% = 1186.50.
#2 is a more complex scenario where each item can have a different Import tax, so let's say item #1 pays 5% duty fee, item #2 pays 6%. Then the total should be calculated and only then the federal/provincial tax would be applied.
I appreciate if anybody can help me with this.
thank you
Paulo
Posts found: 6
