ID #1602

My accountant has forgotten to apply Vat 12.5 % on sales in the newly added product range. This has come to notice after a day but about 100 bills are already made. How do we handle such situation?

Answer:
The time consuming process is to find out all the bills containing the items without tax and correcting the problem by update tax and then saving.
RanceLab® FusionRetail™ 6 helps you to quickly find and update such bill. All you have to do is,
 

Step1:

  1. Go to Main Menu > Master Data Management > Inventory > Product Management (M>I>P)
  2. Rectify the product master to apply correct Vat on the product range.

 Step2:

  1. Go to Main Menu> Settings > Database Maintenance > Update Tax (T>D>T)
  2. Input ‘From Date’
  3. Input ‘To Date’
  4. Select Location Name
  5. Go to ‘Voucher Name’ field
  6. Alt + L
  7. Select Voucher Name from the list.
  8. Go to ‘Tax Type’ field
  9. Alt + L
  10. 10. Select Tax Type from the list.
  11. 11. Go to ‘Update in MOP’ field
  12. 12. Alt + L
  13. 13. Select MOP name from the list, for which you need to update the tax.
  14. 14. Press ‘Alt + U’ (or you may also use ‘-U Update’ button).
  15. 15. It will update the tax automatically

 

After update it will show the old and new bill amount and tax amount.


For more details please visit:

Tags: Information, Master, Product Management, Settings

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