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- This is to set the configuration for Purchase Tax. This configuration effect Purchase related transactions for example, GRN, Credit Memo, Purchase Return etc. If a particular branch in the system is not subject to Input Tax, it can be excluded through configuration.
- A valid default GLCode is needed to charge this input tax during the transactions.
- If a filing method is used for the Tax which requires a different GLCode to be used to charge the Tax after filing is done. This is currently practiced in Thailand VAT.
- During the purchase whether the item price keyed in by user is including or excluding tax can be set here as well.
- Rounding option is available to go for accuracy (higher decimal points) or be consistent with accounting (standard up to 2 decimal points)
- Usually Input tax will be excluded so will uncheck "Enable"
Withholding Tax (Customer)
- This refers to the tax withhold by customer during the payment (Receipt function). This is used in Thailand.
- Branches and default GLCode can be configured
Withholding Tax (Supplier)
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