Conversion of Taxes at Official Exchange Rate

Use

When a clerk posts an accounting document in a foreign currency, the system automatically converts the tax base amounts to the local currency using two different exchange rates:

The commercial exchange rate
The official exchange rate published by Magyar Nemzeti Bank (Hungary’s central bank)

It converts tax amounts at the official exchange rate only.

This allows you to prepare statutory reports that state tax amounts posted in foreign currency at the official exchange rate, as required by law.

Activities

Customizing

Make the Customizing settings as described in Customizing for Conversion of Taxes at Official Exchange Rate .

Day-to-Day Activities

Once you have posted an accounting document, you can check the tax amounts as described in Displaying Taxes at the Official Exchange Rate . The amounts are stored in the following fields:

Amount	Exchange Rate	Field	Technical Name (BSET)
Tax base	Commercial	Tax Base Amount in Local Currency	HWBAS
Tax base	Official	Tax Base in Country Currency	LWBAS
Tax	Official	Tax Amount in Local Currency and Tax Amount in Country Currency	HWSTE and LWSTE

Reporting

All statutory reports for Hungary read the tax amounts as translated at the official tax rate (fields BSET-LWBAS and BSET-LWSTE).