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Former Member
Dec 02, 2011 at 02:17 AM

Tax calculation on freight

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Hello Experts,

I have a requirement that tax should be calculated on freight.

eg:Gross price : 50NZD

Fright :5NZD

Total :55NZD

Tax@15% :8.25NZD

On doing Goods Receipt Acoounting entries should be:

Stock account: +55NZD

GR/IR : -50NZD

Freight : -5NZD

Note: I am using tax procedure:TAXNZ

To achieve this please let me know how should I do the system settings or configuration.