When a Purchase order is approved and tax is also charged to the vendor. In this case, Inventory costing will take the price of the unit cost inclusive tax, whereas the last price will be shown as pretax price.
There is a configuration for in Tax Options of Organization - > Purchasing option.
Tax Types: there are by default 5 types are available.
Expand the tax type, let's say TAX1. Under the section "Add Tax 1 Amount to Vendor Price
For All Items:
by default this option is selected, it means to include the tax into the price for all items
For Issue on Receipts items Only:
If you choose this, it means tax will be added to the cost for the direct charged items but not for the inventory items.
For No Items: (the first one):
This is the option we needed for this. This means, include the tax for NO ITEMS.
only the principle amount will be counted, the pre-taxed one.
reference: https://www.ibm.com/support/pages/node/529529
|
|
Just a note that using No Items or All Items is dependent on your accounting tax requirements. If the tax is a VAT, then Maximo would be configured to No Items. But other taxes may be different, in which case you would typically want All Items. It's necessary to get the rules from the Accounting department with this one.
ReplyDelete