How to create Tax
Exemption:
Navigate to Tax
Manager à Parties à
Party Tax Profiles
Query the specific
Customer (make sure the party type is ‘Third Party’)
Now click on ‘Update
Profile’
Go to Exemptions tab
Enter all the details
shown above
Here the rate entered
Discount / Surcharge %: 50 and click on Apply
Actual rate is 15 %,
Discount %: 50, New rate: 15 * 50/100 = 7.5 %
When there are no Tax
Exemptions, the tax rate is 15 % and below is the example
13,043.48 * 15/100 =
1,956.52
We will enter a
Transaction, to see the how Tax Exemptions work
111,627.91*7.5%
= 8.372.09
1 comment:
Is the tax handling defaulted to exempt? Or is this done manually.
What if order management is used and creates records in autoinvoices. How does tax exemption gets applied automatically?
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