39 lines
1.8 KiB
Markdown
39 lines
1.8 KiB
Markdown
For Tax Accounts that you want to use in the tax templates, you must mention
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them as type “Tax” in your Chart of Accounts.
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Similar to your Sales Taxes and Charges Template is the Purchase Taxes and
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Charges Master. This is the tax template that you can use in your Purchase
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Orders and Purchase Invoices.
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> Buying > Setup > Purchase Taxes and Charges Template > New Purchase Taxes and Charges
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Master
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You can specify if the tax / charge is only for valuation (not a part of
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total) or only for total (does not add value to the item) or for both.
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If you select a particular tax as your Default tax, the system will apply this
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tax to all the purchase transactions by default.
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### Calculation Type
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This can be on Net Total (that is the sum of basic amount). On Previous Row
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Total / Amount (for cumulative taxes or charges). If you select this option,
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the tax will be applied as a percentage of the previous row (in the tax table)
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amount or total. Actual (as mentioned).
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* **Account Head:** The Account ledger under which this tax will be booked.
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* **Cost Center:** If the tax / charge is an income (like shipping) or expense it needs to be booked against a Cost Center.
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* **Description:** Description of the tax (that will be printed in invoices / quotes).
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* **Rate:** Tax rate.
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* **Amount:** Tax amount.
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* **Total:** Cumulative total to this point.
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* **Enter Row:** If based on "Previous Row Total" you can select the row number which will be taken as a base for this calculation (default is the previous row).
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* **Consider Tax or Charge for:** In this section you can specify if the tax / charge is only for valuation (not a part of total) or only for total (does not add value to the item) or for both.
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* **Add or Deduct:** Whether you want to add or deduct the tax.
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{next}
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