(IND) Post purchase transactions of excise using general and payment journals [AX 2012]

Updated: November 9, 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.

When you credit the vendor account and debit the ledger account, the excise amounts calculated are debited to the accounts as defined in the Tax ledger posting groups form for the ECC number.

The ledger accounts that are debited with the excise amounts depend on the excise record type you select in the Excise record type field in the Journal voucher form.

When you select this excise record type

This ledger account type is debited

None

Recoverable account

RG23D

RG23D CENVAT credit account

RG23A

Recoverable account. RG23A deferred account if the claim percentage for CENVAT is defined.

RG23C

Recoverable account. RG23C deferred account if the claim percentage for CENVAT is defined.

To update the excise register on the date the invoice is posted, you must select the Delivery date or Invoice date in the Vendor calculation date type field in the General ledger parameters form. If you select the Document date option, the excise register is updated on the document date. If the document date is not set, then the registers are updated on the date the invoice is posted on.

NoteNote

The excise calculation rate that is applicable to an excise tax code is based on the value that you select in the Vendor calculation date type field in the General ledger parameters form.

  1. Click General ledger > Journals > General journal. Select or create a journal, and then click Lines.

    −or−

    Click Accounts payable > Journals > Payments > Payment journal. Select or create a journal, and then click Lines

  2. Enter the details for the voucher line on the Overview tab.

  3. Select the excise tariff code for the transaction in the Excise tariff code field in the lower pane.

  4. Click the General tab. Select the sales tax group in the Sales tax group field and the item sales tax group in the Item sales tax group field.

    NoteNote

    Excise taxes are calculated only if the sales tax group and the item sales tax group have common tax codes of the tax type Excise.

  5. View or modify the amount in the Assessable value field. Assessable value is one of the base values the excise duty can be calculated on. The amount entered in the journal line, either in the Credit or Debit field, is displayed by default.

    NoteNote

    If a vendor is a part of the transaction, the taxes will be posted to the recoverable account before a settlement period is closed, regardless of whether the assessable value is positive or negative. If a customer is a part of the transaction, the taxes will be posted to the payable account before a settlement period is closed, regardless of whether the assessable value is positive or negative.

  6. Enter the amount for the maximum retail price of the item in the Max. retail price field. The maximum retail price is one of the base values the excise duty can be calculated on.

    NoteNote

    If the taxable basis is Assessable or Max. retail price, modify the value in the Assessable value and Max.retail price fields.

  7. Click the Tax information tab. Under the Company information field group, you can view or change the name and current address of the company.

  8. Select the excise registration number (ECC) of the company in the ECC number field. The ledger accounts to post the excise tax amounts are identified based on the ECC number.

  9. Select the type of excise register in the Excise record type field.

  10. Click the Sales tax to view the calculation of excise in the Temporary sales tax transactions form.

  11. Click the Formula designer to view the formula defined for each excise tax component for an item sales tax group, for the calculation of excise.

  12. Validate and post the journal. The excise register-Part II is updated with the excise amount.


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

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