Automate VAT on Assets
Content
Dears,
We created a tax for tax rate 11%. This one will be applicable for asset accounts only in Payables Module.
Rules:
Supplier Registered in VAT? (Y/N)
OR
item subject to VAT
Rate:
11% on Assets
Example:
"We bought a chair from 2 suppliers where cost of chair = 100$
Supplier 1 (reg. in VAT): Cost of Chair x 11% = $111 -> TAX = 11$
Supplier 2 (No VAT): Cost of Chair = $100"
Question:
What is the correct way to create the rules to automate the taxation process?
Thanks
Patrick
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