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Payables and Cash Management - EBS (MOSC)

How to calculate Purchase & VAT both on a different Exchange rate ?

May 17, 2011 7:16AM edited May 20, 2011 9:24AM in Payables and Cash Management - EBS (MOSC) 1 commentAnswered

As per the Supplier Invoicing process, Client receives the invoice from the supplier for payment.

Based on this invoice, VAT is calculated based on statutory rules.

With-holding tax is calculated based on amount excluding VAT

Payment is made on every Friday.

Requirement: Foreign Currency Transactions

A separate Exchange Rate (bank exchange rate) is used for calculating actual purchase amount

A separate Exchange Rate (Tax exchange rate) is used for calculating VAT and Withholding Tax amount

How can we have two exchange rates for Actual Purchase & Tax calculated?

Tagged:

EBS-FIN-Payables

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