Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Inforln.com ERP LN 10.4 Tax on a Separate Invoice Enhancements

639 views

Published on

Inforum 2014 Infor ERP differences training for Infor Ming.le, Infor Cloudsuites and Infor ERP LN. These presentations explain how to use new functionality enhancements in Infor LN 10.4 and other applications within the vertical industry Cloudsuites. There are Cloudsuites for Financials, Aerospace and Defense (A&D), Automotive, Industrial Machining and Equipment and other discrete manufacturing industries. If you still have Baan 4, FourthShift, Microsoft Dynamics GP, SAP R/3 or any other legacy ERP, then you might want to consider Infor LN. We specialize in Baan 4 to LN migrations but can handle upgrades from virtually any manufacturing ERP system to the new Infor CloudSuites. For more information and how-to content, visit http://inforln.com or contact Dan Aldridge, CEO of Performa Apps, at 703.251.4504.

Published in: Software
  • Be the first to comment

  • Be the first to like this

Inforln.com ERP LN 10.4 Tax on a Separate Invoice Enhancements

  1. 1. 1Copyright © 2014. Infor. All Rights Reserved. www.infor.comCopyright © 2014. Infor. All Rights Reserved. www.infor.com 1 Infor LN 0.4 Tax on Separate Invoice Enhancements Rollout training Campus Course Code: 02_0021040_EEN0473_ELN July 2014 Ramamurthy Mahesh
  2. 2. 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
  3. 3. 3Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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.
  4. 4. 4Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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.
  5. 5. 5Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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
  6. 6. 6Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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
  7. 7. 7Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax Invoice Data
  8. 8. 8Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax Invoice Data
  9. 9. 9Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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.
  10. 10. 10Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax Invoice Data – Rate to Tax Currency Option 2 Direct entry of rate between net invoice currency and tax currency
  11. 11. 11Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax Invoice Data – Rate to Tax Currency Option 3 Direct entry of tax base amount in tax currency.
  12. 12. 12Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax Invoice Data Tax base amount in tax currency shown in this session will be the basis for the tax amount calculation during invoicing.
  13. 13. 13Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax Invoice Data
  14. 14. 14Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax on Separate Invoice – Compose Billable Lines 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
  15. 15. 15Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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.
  16. 16. 16Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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.
  17. 17. 17Copyright © 2014. Infor. All Rights Reserved. www.infor.comCopyright © 2014. Infor. All Rights Reserved. www.infor.com 17 Demo
  18. 18. 19Copyright © 2014. Infor. All Rights Reserved. www.infor.com 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.
  19. 19. 20Copyright © 2014. Infor. All Rights Reserved. www.infor.com Tax on Separate Invoice - Example Sales 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
  20. 20. 22Copyright © 2014. Infor. All Rights Reserved. www.infor.com

×