Tax Management: Difference between revisions

Revision as of 12:06, 25 July 2023

I have a bill from Telco and for local calls, there is GST. But for ovreseas call, GST is exampted. These transactions come in the same bill. How do I setup and record?

This is one of the most common issues faced by any users who are not using Highnix ERP. Highnix ERP is able to handle this seems simple, but difficult to resolve siuation. It is actually a simple one-time setup and it can be applied to different vendors, customers and products. Here are the steps:

Assuming that the tax type of TX (current tax rate say 8%) and ZP (Zero Tax) tax type have already been setup in the system. (Note: The system supports two tax types: TX (8%) and ZP (zero tax). Note that zero tax is not the same as tax exemption. Zero tax is still a tax, but the rate is zero. If zero tax is applied, the system will record the input value of the purchase, but the tax amount will be zero. Tax exemption, on the other hand, means that there is no tax liability at all. If tax exemption is applied, the system will not record the input value or the tax amount.)

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-This is one of the most common issues faced by our customers and users.   Highnix ERP is able to handle it.  It is actually quite simple.  Users just need to setup the following:
+This is one of the most common issues faced by any users who are not using Highnix ERP.  Highnix ERP is able to handle this seems simple, but difficult to resolve siuation.  It is actually a simple one-time setup and it can be applied to different vendors, customers and products.  Here are the steps:
-#  Assuming that the tax type of TX (current tax rate say 8%) and ZP (Zero Tax) tax type has been setup.  ('''<span style="color:red;font-weight:bold"><u>Note1</u></span>''' The system supports two tax types: TX (8%) and ZP (zero tax). Note that zero tax is not the same as tax exemption. Zero tax is still a tax, but the rate is zero. If zero tax is applied, the system will record the input value of the purchase, but the tax amount will be zero. Tax exemption, on the other hand, means that there is no tax liability at all. If tax exemption is applied, the system will not record the input value or the tax amount.)
+#  Assuming that the tax type of TX (current tax rate say 8%) and ZP (Zero Tax) tax type have already been setup in the system.  ('''<span style="color:red;font-weight:bold"><u>Note:</u></span>''' The system supports two tax types: TX (8%) and ZP (zero tax). Note that zero tax is not the same as tax exemption. Zero tax is still a tax, but the rate is zero. If zero tax is applied, the system will record the input value of the purchase, but the tax amount will be zero. Tax exemption, on the other hand, means that there is no tax liability at all. If tax exemption is applied, the system will not record the input value or the tax amount.)
+#
-For example, you have an Internet connection, a router, a simple firewall and Local Area Network.  This can be subjected to virus attack, hacker (if the hacker found that it is worth to hack to your network and server), fire, water, physical vandalism, malicious codes, phishing or advanced phishing attacks.
-Typically, a cloud service provider provides adequate protection against attacks.  The firewalls are more advanced than a normal SME can deploy and implement. The hardware are also housed in data centre with proper physical access control and fire protection.  Their network security expertise are generally at the level of large corporations.
-Therefore, if a company does not have budget for competent Network specialist, it is better to host the service at the cloud servers.
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Tax Management: Difference between revisions

Revision as of 12:06, 25 July 2023

I have a bill from Telco and for local calls, there is GST. But for ovreseas call, GST is exampted. These transactions come in the same bill. How do I setup and record?

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