Tax code and GL

[Former Member]

Hello

can we assign 2 or more GL to a particular tax code.........

regards

[sanilbhandari]

Hi

What is your exact requirement?

If the condition types and accounting keys are different in the same tax code, you can assign multiple GL Accounts. For eg, Tax Code is 10% Service Tax and 4% VAT, than in that case, it necessarily has to go to seperate GL Accounts. The Tax Code will look like

Desecription Condition Type Account KeyService Tax on Basic @ 10% ZSER ZS1

VAT @ 4% ZVAT ZV1

Here in OB40, you can assign two seperate GL Accounts against multiple condition types since the accounting keys are seperate.

Regards

Sanil Bhandari

[Former Member]

hello

my requirement is that....there are two company codes are sharing same COA and if they are having two different GL for one particular tax type........

In this case can i use only one tax code and assign it to two different GLs.

is it possible or i have to create two tax codes(same nature) for two company codes.

regards

[Former Member]

hi

ideally, you should keep same GL for one tax code accross all company codes who are having one common CoA. Else, create another tax code. It can not have two seperate GLs

Raj

[atif_farooq]

Dear:

Tax code are created at client level and are not company code specific , however creating two GLs and two tax code, One GL opened in one company while 2nd in the other company will resolve your issue.Configure it in OB40.Butt it does not look good idea to me to create two tax code and two Gls.

Regards

[sanilbhandari]

Hi

If the tax type, rate and nature are same, than for the two company codes havinbg same COA, you should ideally assign the same GL Account.

regards

Sanil

[atif_farooq]

Dear:

No you can not do that. You can check in FTXP, A tax code can only be assigned to one GL.

Regards