Inforln.com ERP LN 10.4 Tax on Separate Invoice Enhancements

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Infor LN 10.4 Tax on Separate Invoice Enhancements

Rollout trainingCampus Course Code: 02_0021040_EEN0473_ELN

July 2014

Ramamurthy Mahesh

2Copyright © 2014. Infor. All Rights Reserved. www.infor.com

Agenda• Tax on Separate Invoice – Need

• Solution Overview

• Tax on Separate Invoice – Configuration

• Solution Details

• Tax Invoice Data

• Tax on Separate Invoice – Compose Billable Lines

• Tax on Separate Invoice – Printing and Posting

• Demo

• Scenario – Sales Orders Combine


Tax on Separate Invoice - Need

• Invoice in foreign currency and report tax in local currency.

• Currency rate used for home currency amount conversion can be different from the currency rate to be used to derive the tax currency amounts.

• Difficult to arrive at the correct tax amounts in the above scenario.


Tax on Separate Invoice - Configuration

• Tax codes by country ( tcmcs0136s000 ) -

Tax scenario to be set to “Tax on Separate

Invoice”.

• When this tax code is used, tax currency can

be maintained at the time of Billing.

• Separate Net and Tax invoice will be created

during composing.


Tax on Separate Invoice

Sales Order

Project Installments

Manual Sales

…

With tax on separate invoice tax

code.

Billable Line with Tax Invoice

Data

Tax Invoice data can be

maintained when Billable

Line status = On Hold

Net Invoice With No tax

Amount

Tax Invoice with only tax

amount.

Currency/Rates from Tax

invoice data used.

Reference to each

other

Compose


Tax on Separate Invoice

Sales Order


Manual Sales

…


code.


Data





Tax Invoice Data


Tax Invoice Data


Tax Invoice Data – Rate to Tax Currency

Option 1

Using specific exchange rate type and rate

date. In this case currency rate will be

fetched from the Currency Rates table.



Option 2

Direct entry of rate between net invoice

currency and tax currency



Option 3

Direct entry of tax base amount in tax

currency.


Tax Invoice Data

Tax base amount in tax currency shown in

this session will be the basis for the tax

amount calculation during invoicing.


Tax Invoice Data


Tax on Separate Invoice – Compose Billable Lines

Sales Order


Manual Sales

…


code.


Data




Net Invoice With No tax

Amount

Tax Invoice with only tax

amount.

Currency/Rates from Tax

invoice data used.

Reference to each

other

Compose


Tax on Separate Invoice – Compose Billable Lines

• Billable Lines with same currencies but different tax invoice currencies will not be combined.

• Billable Lines with Tax on separate invoice tax code will not be combined with Billable Lines with normal tax code.

• Real Invoice Number generated for both net and tax invoice.

• Reference between Net and Tax Invoice.

• Invoice date / tax date changes updates both net and tax invoice.

• Undo compose will undo compose both net and tax invoice.

• The invoice document number will be set to deleted in this case.

• A new invoice number will be generated when composing again.


Tax on Separate Invoice – Printing and Posting

• When printing a net or tax invoice , also the related invoice is printed.

• Information is made available regarding the related net or tax invoice as well as reason codes for possible customization.

• Undo compose is no longer allowed when one of the net or tax invoice is printed/posted.

• Posting results in two open entries – for net and tax invoice.

• Integration transactions are created only for net invoice.

• Source packages are updated with the net invoice number.

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Demo


Scenario – Sales Orders Combine

• Sales Order 1 – USD 1000, tax rate 10 % ( Tax on separate invoice - AUD)

• Sales Order 2 – USD 1000, tax rate 10 % ( Normal Tax code)

• Sales Order 3 – USD 1000, tax rate 10 % ( Tax on separate invoice - AUD)

• 1 USD = 1.1 AUD

• Compose together.


Tax on Separate Invoice - ExampleSales Order Amount Tax Rate

SO 1 USD 1000 10%

SO 2 USD 1000 10%

SO 3 USD 1000 10%

Billable Line Amount

SO 1 USD 1000

SO 2 USD 1000

SO 3 USD 1000

Tax Data Currency Tax Base Tax Amount

SO 1 AUD 1100 110

SO 2 USD 1000 100

SO 3 AUD 1100 110

Invoice Currency Net Tax Total

ACR 1 USD 2000 0 2000

ACR 2 AUD 0 220 220

Invoice Currency Net Tax Total

ACR 3 USD 1000 100 1100


Software

Inforln.com ERP LN 10.4 Tax on Separate Invoice Enhancements