service tax amount as separate line item in finance

[Former Member]

Hi,

To track basic amount and service tax payable's separately, we want to post two separate line items for basic amount and service tax payable

during periodic postings against lease-in contracts.

For example:

Rent is 1000 INR

Service tax is 140 INR

When i am doing postings through periodic postings, as per standard it will be posted as below

Cr vendor 1140 INR

Dr expenditure 1000 INR

Dr Service tax receivables 140 INR

but we need accounting entry as below...

Cr Vendor 1000 INR

Cr Vendor 140 INR

Dr Expenditure 1000 INR

Dr Service tax receivables 140 INR

Is there any standard functionality or by enhancing the standard, we can achieve this requirement. Please let us know.

Regards

Srini

[Former Member]

Hi Siddharth,

My requirement is separate line item in vendor ledger for tax amount. Tax summation will not work for this scenario.

Tax summation works as below..

• Without tax summarization:
  

  Customer	7.28
  Revenue	6.28 -
  Customer	7.28
  Revenue	6.28 -
  Customer	7.28
  Revenue	6.28 -
  Tax	1.00 -
  Tax	1.00 -
  Tax	1.00 -

• With tax summarization:
  

  Customer	EUR 7.29
  Revenue	EUR 6.28
  Customer	EUR 7.28
  Revenue	EUR 6.28
  Customer	EUR 7.28
  Revenue	EUR 6.28
  Tax	EUR 3.01

My requirement is as below..

Customer EUR 6.28

Customer EUR 1.00 (customer will be debited as separate line item with tax amount)

Revenue EUR  6.28

Tax          EUR 1.00

Rgds,

Srini

[Former Member]

Hi,

You can check with Document Splitting if it can help you.
Standard process will be helpful else you can customize it if it can help you.

Regards,

Sid

[Former Member]

Hi,

Please check whether Tax Summarization is active or not.

If it is active and deactivate it and try to simulate.

Regards,

Sid

[bowen_cao]

Hi Srini,

Please check below customizing:

T-CD: RECACUST

Flexible Real Estate Management (RE-FX)

   Accounting

     Automatically Generated Accounting Documents

       Summarize Documents

          Activate Document or Tax Summarization in Company Code

Regards,

Bowen