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 Software 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:

• Product Management