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FrontAccounting forum → Setup → Tax Association in Sales & Purchase.
Dear sir,
First:
In our organization, the purchase modules require 2 types of taxes charged.
1)- 4% VAT.
2)- 1% Additional VAT.
So How Can we integrate these taxes in purchase module, so that it wil displayed after line total ???
Second:
In Sales module i have to charged 12.6% VAT for sales items. So how can we integrate it with FA system.
At All i does not able to understand how tax in incorporated with FA.
Please look for information regarding this in the .
/Joe
Dear Sir,
As given in FA Wikki, i have assigned the values as per my need, but it's not working fine, it gives some error.
i.e. when creating sales order it is giving 12% VAT that is right but when creating purchase order it also gives 12.6 % of VAT, which is wrong. it will be 4% & 1% of VAT.
I have given following setting for my needs for tax association with sales & purchase
Tax types are
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Description Default Rate (%) Sales GL Account Purchasing GL Account
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VAT 4.0 Purchases of materials Purchases of materials
Additional VAT 1.0 Purchase price Variance Purchase price Variance
VAT 12.6 Sales Sales
Tax groups are -
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Description Shipping Tax
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VAT No
Tax Exempt No
Item tax are -
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Name Tax exempt
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Regular No
Preferenced Goods No
In regular Tax, i have selected VAT (12.6%) & in preferrenced tax i have give for VAT(4%) & Additional VAT (1%). So, sir please solve this problem .... waiting for ur reply ....
regards,
Sumit Singh
(India)
First of all, when creating Tax Types you should set correct GL Accounts for Sales and Purchase. You have set the purchase and sales accounts. This is not right. You should set Sales Tax Gl account somewhere in the liability section and a purchase Tax account either the same or one in the assets section. You can use the same account for both Sales Tax and Purchase Tax.
Secondly you should create the Tax Groups. One that includes both the 4% and 1% and one which includes only the 12.6%.
In the Item Tax types you create some types with or without the tax types.
I wonder which release you are running. We have made some improvements in 2.3 RC3, regarding supplier invoices.
/Joe
Thanxs, for speedy reply ....
I am going to configure tax system as in your reply.
FrontAccounting forum → Setup → Tax Association in Sales & Purchase.
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