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Non-Recoverable Tax based Account from Tax setup and not Charge Account!

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edited Feb 17, 2022 10:57PM in Budgetary Control 3 comments

Summary

Non-Recoverable Tax based Account from Tax setup and not Charge Account!

Content

Hi,

 

Currently when a Req or PO is created and there is Non-Recoverable Tax, the system automatically adds the Non-Recoverable Tax to the Charge Account of the Req or PO.

 

E.g. Req for $100 where Tax rate is 10% and Non-Recoverable is 50% of the 10% So Tax would be $10 and the Non-Recoverable would be $5.

For Accounting Purposes it would take the charge Account of the Req or PO for the Non-Recoverable portion

e.g. Req is $100 and charge Account is 100.2340.2000 (Company, Account, Cost Centre). The system would then add $5 to charge account 100.2340.2000.

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