(IND) Create excise ledger accounts [AX 2012]

Updated: October 17, 2012

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

You must maintain excise recoverable accounts and excise payable accounts separately for each combination of an Excise Control Code (ECC) number and an excise duty. The account type for the accounts must be Balance sheet. Create the accounts in the Chart of accounts form.

  1. Click General ledger > Setup > Chart of accounts > Chart of accounts. On the Main accounts FastTab, select an existing account, or click New to create an account.

    –or–

    Click General ledger > Common > Main accounts. On the Main accounts list page, select and open an existing main account, or on the Action Pane, in the New group, click Main account to create a main account.

  2. Create the following ledger accounts for each excise tax component to record the excise transactions:

    • Excise, payable

    • Excise, recoverable

    • Interim PLA account

    • PLA account

    • RG23A deferred account

    • RG23C deferred account

    • RG23D CENVAT credit transferred account

    • RG23D CENVAT credit account

  3. On the Setup FastTab, in the Posting type field, select Excise to post the transactions that are related to excise tax to the ledger accounts.

  4. Enter information in the other required fields.

  5. Repeat steps 3 and 4 for each ledger account.


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