on 04-18-2011 12:51 PM
hi all if iam raising PO based on invoice shall i raise on net amount or shall i include tax or vat of invoice and when we create po we do select the tax code so what does it do (it includes and calcuate the reporting country vat or tax)
HI,
Please Create a PO with the Net amount and select the appropriate Tax code in Item Details (Invoice Tab).
It basically depends on your accounting Practice on as to how you would capture the cost of Material and Taxes.
If it includes the Tax , you can use 0% Tax in Tax Code. (if you have defined 0% as Tax )
I would say that you should mention the Net Price and take Tax from Tax code.
Hope this helps,
Amit Bakshi
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Hi
shall i include tax or vat of invoice and when we create po we do select the tax code
You cannot decide such type of things,ask your client,what business they want.tax adding in material cost or taxes taking separately ,its part of business
Regards
Kailas ugale
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