Taxes and Accounting posting

[Former Member]

Dear Gurus,

I Have a Scenario for Tax Calculations and Revenue Accounts Posting.... Pls through some Suggetions on this.....

I am Using Milestone billing plan in Sales Order.. I will have the different percentages on value. like 5% as Advance, 10% on completion on Drewing work, 70% on completion of some work and 15% as retention amount.

While Invoicing on 5% as advance taxes should not calculate,

While Invoicing on 10% also taxes shuld not calculate ,

But while invoicing on 70% taxes should calculate on 100% of the value and 90% of 85% of the total order value shuld go to Revenue accounts.(15% already booked in above invoices, and they wont booked as retention).

Pls suggest how can we configure the Pricing for the above scenario...

Thanks in advance

Subbu.......................

[Former Member]

HI

While Invoicing on 5% as advance taxes should not calculate,

1. maintain a condition table for Tax type which includes "Document type" and maintain 0% for your advance payment billing document type.

While Invoicing on 10% also taxes shuld not calculate ,

#Same as above

But while invoicing on 70% taxes should calculate on 100% of the value

#here you could assign Tax as 15 or any % for your invoice value.

and 90% of 85% of the total order value shuld go to Revenue accounts.(15% already booked in above invoices, and they wont booked as retention).

#create new condition type and new formula in VOFM which will do this calculation and assign required amount to condition type. Assign accrual key and maintain GL in VKOA.

try and revert