Vat% in Accounting Entry
Hi All,
I have a requirement related to accounting entry, i have one process where i need to maintain 0% vat on sales item. it is for this reason i had maintain one tax code with 0% condition record at when i m creating invoice the accounting entry is generate without tax mean this 0% is not coming in accounting entry is there any possibility to retain 0% tax with accounting entry like
customer a/c debit 1000
sale of traded goods 1000-
vat 0% 0-
please help to resolve this issue.
thanks in advance
Regards
Vivek Sharma
Hi Vivek,
I had a simillar issue. As per that requirement we need to have a new tax condition type. Hence the existing tax condition type should be made as 0 % in the condition record. As a result of it, the accounting entry was having :
customer a/c debit 1000
sale of traded goods 1000-
Vat (New Condition type) - 10 %.
The conclusion is that it is SAP standard.
Also, please let me know under which scenario you want the 0 % VAT to be displayed in the accounting document.
Regards
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Dear All,
When i make invoice and post to account it gives right entries like Customer A/c Debited & Sales A/c , Cenvat Suspense A/c , VAT A/c Credited.
But when i creat Excise Invoice in J1IIN with reference to same Billing Document, after creation and save the excise invoice i checked the Account entries but it will show the same Entries which i above mentioned but i think it is wrong, the entries should be Cenvat Suspense A/c Debited to Cenavat Paybale Credited .But it show the same entries why? and also there is no relevance of Customer entrie in Excis invoice.
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Awrd points for useful answer.
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Bev -
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On the basis of business requirement, we are trying to a new pricing procedure and the content of the same are as follows.
20 PR00 (price) ERL eg:10000
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70 AFTER DISCOUNT 20 - 69 9700
390 JVT1 VAT 20 - 20 MW4 1304
500 BASE VALUE 70 - 499 11004
510 INVOICE VALUE 499-509 11004
520 DIFF Rounding
I am confused on the SUBTOTALS to be put against each entry.
Also the entries i am getting in my accounting is
CASH CUSTOMER : 11004
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CASH CUSTOMER : 9,700.00
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I strongly believe i have to restructure the procedure and also this has to do something with SUBTOTALS.
Looking for the expert opinions /suggestions
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Hegal K CharlesDear Lakshmipathi ,
The settings in the procedure and condition types are as mentioned by you.
My invoice value should be 8696
My MRP is 10000
that there will be a discount of 300
hence the result is 9700
on this amount i will be calculating the VAT of 13.04 % which will be 1304 in this scenario.
The resultant value (9700-1304) is 8,396.00
15% VAT as posted in the previous thread is not relevant (hence no need to consider that)
The invoice value will be 8696
In the pricing procedure,
STEP CNTR CTYP DESCRIPTION FROM TO MAN MDT STAT P SUBTAL REQT ACTY ALTBV ACTKY
20 | 0 | ZMRP | MRP PRICE | X x 1 | ERL
50 | 0 | ZSTL | DEAL | 20 | 49 | | ZDI
70 | 0 | |AFTER DISC.| 20 | 69 | D
390| 0 | JVT1 | VAT | 70 | 70 | x E |MW4
500| 0 | |BASE VALUE| 70 | 499| X X 13 12
503| 0 | |INV VALUE | 499 |500 | X X
520| 0 | DIFF |ROUNDING | 503 |503 | 13 16 4 |RND
for ZMRP mdt is checked, print is X, SUBTOTAL is 1
AFTER DISCOUNT : SUBTOTAL IS 'D'
For JVT1 : PRINT is X, SUBTOTAL is E
BASE VALUE : MDT IS CHECKED , PRINT IS 'X' , REQT IS 13 , ALTCTYP IS 12
For invoice value , MDT is checked and print is X
This is the setting maintained in pricing procedure.
Under the above setting my accounting entries are as follows.
cash customer 11004
sales 10000-
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BUT MY ENTRY SHOULD BE
cash customer 9700
sales 8696-
sales disc 300
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Hope its more clear now.
Thanks & Regards,
Hegal K Charles
Edited by: Hegal . K . Charles on Jun 8, 2011 4:10 PM
Edited by: Hegal . K . Charles on Jun 8, 2011 4:19 PM -
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