on 05-13-2011 9:49 PM
Hi,
I have a question related to the VAT calculation during MIRO -
Couple of facts -
1. The company code has TAXES procedure attached to it.
2. The tax code 'S3' is setup for 18% tax.
3. The account key 'VST' is setup as follows -
a. Tax type = 2 (Input tax)
b. Not deductible = checked off
c. Posting indic. = 2 (Separate line item)
4. Vendor invoice = 119 EUR; Expense line item = 100 EUR and Calculated tax = 18 EUR (18%)
The following accounting entry is proposed by the system during the simulation of MIRO -
1 K Vendor 119.00- EUR
2 S GR/IR NON STOCK 100.00 EUR
3 S VAT RECOVERABLE 18.15 EUR
4 S ACCRUED TAX 0.85 EUR
I can not explain the additional 15 cent into the tax account. I think the system is considering base as 101 instead of 100 which means 101 * .18 = 18.18 but it is still 3 cents off. Is it a rounding issue or something else?
I'm expecting the above entry the following way -
1 K Vendor 119.00- EUR
2 S GR/IR NON STOCK 100.00 EUR
3 S VAT RECOVERABLE 18.00 EUR
4 S ACCRUED TAX 1.00 EUR
Any help would be highly appreciated.
Thanks,
MV
Hi,
>
> I have a question related to the VAT calculation during MIRO -
>
> Couple of facts -
> 1. The company code has TAXES procedure attached to it.
> 2. The tax code 'S3' is setup for 18% tax.
> 3. The account key 'VST' is setup as follows -
> a. Tax type = 2 (Input tax)
> b. Not deductible = checked off
> c. Posting indic. = 2 (Separate line item)
> 4. Vendor invoice = 119 EUR; Expense line item = 100 EUR and Calculated tax = 18 EUR (18%)
>
> The following accounting entry is proposed by the system during the simulation of MIRO -
> 1 K Vendor 119.00- EUR
> 2 S GR/IR NON STOCK 100.00 EUR
> 3 S VAT RECOVERABLE 18.15 EUR
> 4 S ACCRUED TAX 0.85 EUR
>
> I can not explain the additional 15 cent into the tax account. I think the system is considering base as 101 instead of 100 which means 101 * .18 = 18.18 but it is still 3 cents off. Is it a rounding issue or something else?
>
> I'm expecting the above entry the following way -
> 1 K Vendor 119.00- EUR
> 2 S GR/IR NON STOCK 100.00 EUR
> 3 S VAT RECOVERABLE 18.00 EUR
> 4 S ACCRUED TAX 1.00 EUR
>
> Any help would be highly appreciated.
>
> Thanks,
> MV
Hi,
This type of calculation occurs because of no round off calculation type is used for the condition types--Vat Recoverable and S Accured tax and.for this Goto the required TAx procedure through OBQ3 and in the respective condition types use calculation type=17.
Now you will get the correct values for Vat Recoverable and S. Accured Tax.
But remember this will always round -off the value for those condition types.
Thanks & Regards,
Bijay Pradhan
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