1. Define Tax Calculation Procedure
Use
In this activity, you define calculation for tax procedure. If there are existing ones, you may wish to change it to match with the correct tax set-up.
Procedure
a) First, access the activity using one of the following navigation option:
| IMG Path | Financial Accounting (New) → Financial Accounting Global Settings (New) → Tax on Sales/Purchases → Basic Settings → Check Calculation Procedure |
| Transaction Code | SPRO |
b) On the screen, you choose Define Condition Types
c) On the next screen, kindly make the following entries:
| CTyp | Description | Step | From | Acct Ky |
| BASB | Base Amount | 100 | ||
| MWAS | Output Tax | 110 | 100 | MWS |
| MWVS | Input tax | 120 | 100 | VST |
| NZE1 | NZ Entertain-GST inv. | 130 | 120 | NZ2 |
| MWZI | Non-ded.InputTax -RU | 140 | 130 | NZ1 |
| NZE2 | NZ Entertainment Tax | 150 | 100 | NZ2 |
| NLXA | Acquisition Tax Cred | 160 | 150 | NZ1 |
d) Finally, Save your work.
2. Define Tax Codes for Sales and Purchases
Use
In this activity, you set-up the tax codes for sales and purchases transaction.
Procedure
a) First, access the activity using one of the following navigation option:
| IMG Path | Financial Accounting (New) → Financial Accounting Global Settings (New) → Tax on Sales/Purchases → Calculation → Define Tax Codes for Sales and Purchases |
| Transaction Code | FTXP |
b) Then, choose Country AU. (if Australia)
c) On the next screen, in field Tax Code, enter Tax Code and press on your keyboard or choose Enter.
d) On the Properties dialog box, make the following entries:
| Tax Code | Name | Tax Type | Condition Type | Rate | Country |
| I0 | Input Tax at 0% | V | VST | 0% | AU |
| I1 | Input Tax at 12% | V | VST | 12% | AU |
| IX | Input Tax Exempt | V | VST | 0% | AU |
| O0 | Output Tax at 0% | A | MWS | 0% | AU |
| O1 | Output Tax at 12% | A | MWS | 12% | AU |
| OX | Output Tax Exempt | A | MWS | 0% | AU |
e) Finally, choose SAVE to save your work.
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