(IND) Calculate sales tax in a general journal [AX 2012]

Updated: October 11, 2012

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

NoteNote

This topic has not been fully updated for Microsoft Dynamics AX 2012 R2.

  1. Click General ledger > Journals > General journal.

  2. Press CTRL+N on the Overview tab to create a new journal.

  3. Click Lines to open the Journal voucher form.

  4. Select the type of account in the Account type field.

  5. Select the ledger account for sales tax in the Account field.

  6. Enter the amount of the transaction in the Debit field or the Credit field.

  7. Select the type of offset account in the Offset type account field.

  8. Select the offset account for the journal in the Offset account field.

  9. Select the sales tax group in the Sales tax group field.

  10. Select the group of sales tax codes that is used to calculate tax for an item in the Item sales tax group field.

  11. Select the sales tax form type in the India sales tax form type field.

  12. Click the General tab. You can view the amount in the journal line in one of the following fields, based on the taxable basis defined:

    • Assessable value – The value of the journal line is displayed automatically in this field if the calculation of tax is based on the assessable value of the journal line. For example, if a journal line is created for INR 1,000.00 in the Debit field, the Assessable value field displays the line amount of INR 1,000.00, for which the tax is calculated.

    • Max. retail price – Enter the value if the basis of calculation for sales tax is on the maximum retail price of the item.

  13. Click the Tax information tab. Select the address code in the Name field. The address of the company is displayed in the Address field. The tax registration number that is attached to the company is displayed in the Registration number field.

  14. Click Sales tax to open the Temporary sales tax transactions form, where you can view the details of the sales tax amount for the tax code.

  15. Click the Adjustment tab to adjust the sales tax amount, if needed, and click Apply.

  16. Click Formula designer to open the Formula designer form. View the calculation expressions that are defined for the item sales tax group that is selected for the journal. The fields in this form cannot be modified. The sequence of calculation of the tax codes and the basis of calculation of each tax code is determined by the formula that is defined for the selected item sales tax group.

  17. Close the Formula designer form and the Temporary sales tax transaction form to return to the Journal form.

  18. Post the transaction. The account that is selected in the Account field is debited. The offset account that is selected in the Offset account field is credited. Conversely, if the Account field is credited, the offset account is debited. The sales tax amount is credited to the payable account or debited to the expense account, depending on whether the amount is entered in the Credit field or the Debit field of the journal line.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

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