Tax Data
As a rule, incoming invoices include sales tax. This is specified either as a percentage rate or as a set amount. This must be entered together with the general invoice data. The relevant postings are made automatically by the system.
You enter the tax information contained in the invoice in the following fields:
In this field you enter the amount of the tax contained in the invoice.
The tax code is a key that specifies the tax type and the tax percentage. The system allows only the tax codes defined by your system administrator.
If the tax amount is not specified explicitly in the invoice, the system can calculate the tax amount itself.
Your system administrator can determine how many tax amounts and codes can be entered in the vendor screen by making the appropriate settings in the Customizing system of Invoice Verification.
The tax code entered for an item can be changed on the item screen (unless the tax code is contained in the G/L account).
The system uses the tax code and the amounts on the individual items to determine the tax base for each tax code. When you choose Simulate or Post, the system checks whether the tax amounts are correct and asks you to make any necessary corrections.