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Good Day
I have a Purchase requisition which is calculated as GBP -Pound.
We are using rands, but we have other currencies that are used.
The pound exchange rate is correct.
The amount is 9650 pounds and the vat is calculated at 15%. The vat amount should be 1447.5
The screenshot below shows that the vat is 1456.16.
Please assist
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Dear Ludwig \Andre
I spoke to our finance division after finding a previous PR that has GBP and the vat amount was also incorrect. They informed me that it is calculated based on the rate on that day.
Therefore the exchange rate needs to be changed to the invoice date, in order for the amount to be the same.
Thank you for your assistance
Kind Regards
Angel AX
Hi,
If you select the currency in the first screen to Rand, what do you see? Do the amounts and % match in Rand?
And, as Andre already mentioned, can you open the sales tax code form and click on the value button on top of that form. What do you see there?
Would be great if you could share.
Many thanks and best regards,
Ludwig
Hi AngelAX,
From the requisition line, there is a menu item (Financial > Sales Tax) which shows the details for the line. Can you share what information is on that form?
Hi AngelAX,
Can you share some setup information about your Tax parameters and the Tax Code used for this 15%? I do see there is only one line on this requisition, correct?
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