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Question

Option to Use the currecny rate at invoice posting date for a tax posting created from a tax code where Tax method tax disbursed is "Payment"

  • November 28, 2024
  • 0 replies
  • 16 views

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  • Sidekick (Employee)
  • 7 replies

A cloud customer has a requirement in Malaysia where for customer tax, they need to include tax in the invoice, and they are liable to report (and pay) taxes to the government when the invoices are paid.

 

so generally, a tax code with tax method tax disburse as “Payment”will do the job, but there is a specific government requirement that even though the reporting must be done after payment, if the invoice is of a foreign currency, the currency rate that must be used for tax posting must be the rate of the invoice posting date. In standard IFS, the rate used for payment based tax is the rate of the payment date

 

Is there anyway where where we can

 

Either use the currency rate of invoice posting date for the tax posting created from a tax code where tax method is “Payment”

OR

Use a tax code with tax method as “invoice entry” (so tax is posted at rate of invoice posting date) and when running the automatic tax proposal fetch only the tax transactions of the paid invoices

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