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author's profile photo Former Member
Former Member

Excise Formula

Hi all,

Can anyone help me in Creating Excise formula.

Which includes

BED 14% of total amount

ECD 2% of BED

SHECD 1% bed

Thanks,

Neetu

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  • Best Answer
    author's profile photo Former Member
    Former Member
    Posted on Sep 19, 2008 at 10:48 AM

    Hi Neetu,

    Follow this, if you can't do this please let me know.

    Tax Formula Setup

    1. BED

    Formula Output u2013 BED_TaxAmt u2013 TaxAmt

    BED_BaseAmt u2013 BaseAmt

    Formula Inout - Total

    Formula Input - Rate

    Formula

    BED_BaseAmt=Total

    BED_TaxAmt=Rate*BED_BaseAmt

    2. ECD

    Formula Output u2013 ECD_TaxAmt u2013 TaxAmt

    ECD_BaseAmt u2013 BaseAmt

    Formula Inout -

    Formula Input - Rate - Rate

    BED_TaxAmt u2013 BED_TaxAmt

    Formula

    ECD_BaseAmt=BED_TaxAmt

    ECD_TaxAmt=Rate*ECD_BaseAmt

    3. SHECD

    Formula Output u2013 SHECD_TaxAmt u2013 TaxAmt

    SHECD_BaseAmt u2013 BaseAmt

    Formula Inout -

    Formula Input - Rate - Rate

    BED_TaxAmt u2013 BED_TaxAmt

    Formula

    SHECD_BaseAmt=BED_TaxAmt

    SHECD_TaxAmt=Rate*SHECD_BaseAmt

    Note: Before doing this, define tax types accordingly as BED, ECD, SHECD

    Thanks,

    Balaji

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    • Former Member Former Member

      Hi

      goto Administration->Setup->Finacials->Tax->Tax Types

      Create new tax types u want except BED and cess Bcoz u have BED alredy.

      Then goto

      Administration->Setup->Finacials->Tax->Tax Codes

      then use above said formula

      By

      Kalai

  • author's profile photo Former Member
    Former Member
    Posted on Sep 23, 2008 at 08:47 AM

    BED 14% of total amount

    ECD 2% of BED

    SHECD 1% bed

    Hi Neetu

    Step 1:

    First of all go to. Administrator->setup->financial->Tax->Tax Type

    create Tax type name Bed,Ecd,Shecd with tax catagory "Other" and tax parameter "rate".

    Step 2:Go to Tax code -setup screen in same.and create the tax type combination.click define new a tax type combination -setup screen appers.define code ane description. choose the tax type BED from combo and define the formula by clicking New . In formula setup screen define the tax code and description choose the tax type from combo.

    create the formula for bed

    if (AssessableValue > 0)

    { BED_BaseAmt = AssessableValue*Qty }

    else

    { BED_BaseAmt = Price*Qty }

    BED_TaxAmt=BED_BaseAmt*BED_Rate

    click ok

    again in tax type combination screen choose ECD and again create the formula for ECD

    ECD_BaseAmt=BED_TaxAmt

    ECD_TaxAmt=ECD_BaseAmt*ECD_Rate

    and click ok

    and do the same for SHECD

    Step 3: After creating the tax type combination ,choose this in tax type -setup screen where all three combination appears.

    click tab in code field in grid.click new and define the Code ,name ,ap and ar tax .double click on the right side box and define effective date and rate.

    click ok.

    and do same work for all other taxes.

    click add in tax setup screen.

    Thankz

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