Topic: How to handle purchases from outside of country?
Hi Sir,
How to handle purchases from outside of country?
look the screenshot of a sample:
http://i571.photobucket.com/albums/ss158/aRTx/TaxOverTax2.jpg
2 03/22/2015 06:32:16 pm (edited by apmuthu 03/22/2015 06:35:25 pm)
- apmuthu
- Moderator
- Offline
Re: How to handle purchases from outside of country?
Choose the settlement currency for the vendor.
Get an exchange rate entered for the date on which you book the import.
Create the direct sales invoice and a proper Goods Receival Note (GRN) for it.
Then make payment entries for it and book the expenses for the purchase.
Are you using OpenMiracle? This is the FA Forum.
Re: How to handle purchases from outside of country?
In fact I'm trying Frontaccounting and Openmiracle, I don't know how to handle that.
my problem:
If I buy something from Germany and Import in Kosovo then the price for that car in Germany is 2,000 euro.
When I import that car in Kosovo, our customers will add value they will say:
invoice price = 2,000 euro
excise = 1,000 euro
custom tax 10% = (2,000 + 1,000)*1.10 = 3,300
TAX 16% = 3,300 *1.16 = 3,828
- apmuthu
- Moderator
- Offline
Re: How to handle purchases from outside of country?
Use GRN - Goods receival note. It is designed for such imports.
Re: How to handle purchases from outside of country?
I try GRN but there is no EXCISE options and there is no Customs TAX.
There is just item TAX.
I don't know what to do.
Please...!
- apmuthu
- Moderator
- Offline
Re: How to handle purchases from outside of country?
Treat EXCISE as a tax.
Re: How to handle purchases from outside of country?
There is only one TAX option, and In these cases I have more than three (EXCISE, Custom Tax 10, TAX 16%).
In my country there are some software ca do that but they cost a lot.
Can I use FRONTACCOUNT!?
Does anyone has the same issue?
Thank you
apmuthu
- apmuthu
- Moderator
- Offline
Re: How to handle purchases from outside of country?
Multiple taxes can be consolidated by choosing a different subset of exemptions. Study the Wiki page on how Tax is administered in FA.