Round off for Tax Paramter Code.

[Former Member]

Hi All,

We need Round off for Individual Tax Types Ex: Service round off and cess round off, Hcess round off. how we can Setup ?

Ex1: We Add AR Invoice with Service tax @ 12.36% after adding in Automatic JE it's Generating Like this

Debit Credit

C001 Apple 125,43.00

Service tax Payable @12% 13,396.32

Education Cess Payable @2% 267.93

Higher Education Cess Payable @1% 133.96

Item1 Reve A/C 94,290

Item2 Revenue A/C 12,852

Item3 G Revenue A/C 4,494

Round off A/C - .0.21

this Roumd off for Total Tax Amount

we need Individual Output Like :

C001 Apple 125,43.00

Service tax Payable @12% 13,396.00

Education Cess Payable @2% 268.00

Higher Education Cess Payable @1% 134.00

Item1 Reve A/C 94,290

Item2 Revenue A/C 12,852

Item3 G Revenue A/C 4,494

125,434.00 125,434.00

Where we can setup Round off for Tax Types ?

above 01 to 49 Piya No Addition

50 to 99 Pisa Add

Please Guide me how to slove this Issues.

Regds,

Samapth Kumar devunuri.

Edited by: Rui Pereira on Dec 9, 2008 4:10 PM

[msundararaja_perumal · Accepted solution]

Hi,

Inorder to round off each amount like service tax,cess and higher education cess,you need to use the round off option available in the tax formula.

There you will find two option for round off.

Ex.

To round off service tax

servicetax_amt=Round(Servicebase_amt*ServiceRate_amt,0)

Similarly for cess and higher education cess.

Hope this resolves your issue

[Former Member]

Open Administration -> Setup -> Financials -> Currencies.

Select 'INR' and in Rounding set 'Round to One'

This would round the currency to nearest one rupee always.

[Former Member]

Hi,

You can set the properties of Amount Field replace by 0 in Decimal Places (0u20266)(Administration < System Initialization < General Settings < Display tab.)

Edited by: somi mishra on Nov 3, 2008 7:36 AM