Hi
I would like to know the reason behind the below error message in the External Supplier Invoices screen.
Tax amount adjustment for tax code 25PD cannot be greater than the maximum overwriting level on tax.
Thanx in Advance
Razan
Question
Tax Amount
+4
+5Hi
Have you defined any value for Max Overwriting Level on Tax on Company window > Tax Control Tab > General Tab.
Best Regards,
Kithmini
+4Hi Kithmini,
Thank you very much for your response.
Yes, a value of 0.05 is being defined in the In Acc Curr field.
Best Regards
Razan
+5Hi Razan,
If that is the case, it must be due to the maximum overwriting level on tax. I suggest modifying this value and see whether it resolves the issue.
Regards,
Kithmini
+4Hi Kithmini,
In this case, the tax rate is 22%, out of which 40% is deductible.
Gross Amount - $167.85
Net Amount - $137.58
Tax Amount - 30.27
Value defined in the In Acc Curr field is 0.05.
Tax
Tax Deductible = (30.27*40%) = $12.11
Tax Non Deductible = (30.27*60%) = $18.16
Based on the above calculation, any idea what would be the value that we have to use in the In Acc Curr field?
Best Regards
Razan
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