Canada Self Assessment tax

[Former Member]

Dear All,

I use tax procedure TAXCA in my project in Toronto. They have requirement to self assessment where there is no input tax in Vendor invoice but company still has to post input tax. Example vendor invoice $100, the journal should be:

Dr. Expense $ 113

Cr. Vendor $ 100

Cr input tax $ 13

How to setting this tax code in FTXP ?

[atif_farooq]

Dear:

In transaction code FTXP, you can create tax codes, against these tax code you assign a GL account so that the tax will be collected in this GL account. This will be defined in OB40, here check for input tax transaction key (VST) double click and give the chart of accounts and give the tax code as well the GL account (VAT Payable).

At the time of invoice posting the tax will be deducted and the amount will be available in this account.

Regards