You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Tax Configuration FAQ

Hi,

Below are the taxes configured;

My expectation is below in AR scenario;

Amount charged from customer = 1000
Service Charge (Defined as a tax ) 10% = 100
Amount applicable for SSCL = 1100
SSCL (2.5%) should be = 1100/97.5 * 2.5 = 28.21
Tax Basis for VAT = 1000 + 100 + 28.21 = 1128.21
VAT (18%) = 1128.21 * 18% = 203.08
Total Amount = 1128.21 + 203.08 = 1331.28

My expectation is below in AP scenario;

Amount charged from customer = 1000
SSCL = 1000/97.5 * 2.5 = 25.64
Tax Basis for VAT = 1000 + 25.64 = 1025.64
VAT (18%) = 1128.21 * 18% = 184.62
Total Amount = 1025.64 + 184.62 = 1210.26

How can I achieve the above?

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!