Applying stamp duty and Excise duty on charges
- mssavai
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11 years 1 month ago #15012
by mssavai
Applying stamp duty and Excise duty on charges was created by mssavai
Dear All,
I am trying to create a version for applying some charge during cheque book issuance. The charge attracts a 10% excise duty, and a specific amount stamp duty tax borne by the bank.
For example: If a customer is to be charged USD 20, total charge reflecting on customer account statement would be
Charge : USD 20
Excise Duty: USD 2
=========
Total : USD 22
On posting, the USD 20 charge should be split in two, USD 17 to be posted as Bank commission, and USD 3 posted so stamp duty. Eventually three accounts are Debited - Bank account, Stamp duty account and Excise Duty account.
I am using AC.CHARGE.REQUEST, where I have tried setting a Charge.code using FT.Commission.Type, and attaching a Tax.code (for excise duty) to it, but this does not incorporate the Stamp duty.
If I create a second Charge.Code for Stamp Duty attached with Tax.Code (So that I split the USD 20 between the two Charge Codes as stated above, which attracts Excise Duty separately), transactions posted to customer statement are too many and confusing.
I think the solution would be to create a routine. I will appreciate if someone has any help guide to this kind of routine or a sample or even an alternative to resolve this issue.
Thanks
I am trying to create a version for applying some charge during cheque book issuance. The charge attracts a 10% excise duty, and a specific amount stamp duty tax borne by the bank.
For example: If a customer is to be charged USD 20, total charge reflecting on customer account statement would be
Charge : USD 20
Excise Duty: USD 2
=========
Total : USD 22
On posting, the USD 20 charge should be split in two, USD 17 to be posted as Bank commission, and USD 3 posted so stamp duty. Eventually three accounts are Debited - Bank account, Stamp duty account and Excise Duty account.
I am using AC.CHARGE.REQUEST, where I have tried setting a Charge.code using FT.Commission.Type, and attaching a Tax.code (for excise duty) to it, but this does not incorporate the Stamp duty.
If I create a second Charge.Code for Stamp Duty attached with Tax.Code (So that I split the USD 20 between the two Charge Codes as stated above, which attracts Excise Duty separately), transactions posted to customer statement are too many and confusing.
I think the solution would be to create a routine. I will appreciate if someone has any help guide to this kind of routine or a sample or even an alternative to resolve this issue.
Thanks
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- mssavai
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11 years 1 month ago #15013
by mssavai
Replied by mssavai on topic Applying stamp duty and Excise duty on charges
I still need some guidance on this:
How can I avoid posting split transactions to customer account for the same charge?
Because a simple solution to these charges is to attach Excise Duty on Stamp Duty and on Bank Commission. But this in effect will reflect four transactions on customer account - Bank Commission, Bank Commission Excise Duty, Stamp Duty, Stamp Duty Excise Duty.
A proper solution would be to at least unite the two Excise duties when reflected on customer account statement.
I've attempted writing a subroutine, but I still cant figure out how to post the transaction in the unified manner.
Any observations?
Sincere regards
How can I avoid posting split transactions to customer account for the same charge?
Because a simple solution to these charges is to attach Excise Duty on Stamp Duty and on Bank Commission. But this in effect will reflect four transactions on customer account - Bank Commission, Bank Commission Excise Duty, Stamp Duty, Stamp Duty Excise Duty.
A proper solution would be to at least unite the two Excise duties when reflected on customer account statement.
I've attempted writing a subroutine, but I still cant figure out how to post the transaction in the unified manner.
Any observations?
Sincere regards
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- KChisanga
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3 years 10 months ago #23255
by KChisanga
Replied by KChisanga on topic Applying stamp duty and Excise duty on charges
How are you.Did you find a solution for this.Im trying to do almost the the same thing?
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- AkiaAI
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3 years 10 months ago #23272
by AkiaAI
Replied by AkiaAI on topic Hotels Need to Implement Text Message Marketing | Akia AI
How many times have you sent out an email newsletter and received little to no leads from it? Or you’ll look at your email’s analytics, and less than 20% of your recipients even opened it? We’re not denying that email marketing is a popular and effective marketing tool, but it’s understandable to be frustrated about putting work into something that doesn’t get seen.
From the recipient’s perspective, email marketing is so widespread that newsletters can often get lost in the sea of unread emails.
Any organization that has ever collected your email probably continues to send updates and promotions that you either delete right away or just never open. Even if you really like a specific organization, too many emails from them can still feel like spam.
Unread emails continue to pile up, and the trouble of sorting through everything makes people put it off even more. Does this look familiar to you.
Visit Us: Online Messengerhttps://www.akia.com/blog/why-hotels-need-to-implement-text-message-marketing
From the recipient’s perspective, email marketing is so widespread that newsletters can often get lost in the sea of unread emails.
Any organization that has ever collected your email probably continues to send updates and promotions that you either delete right away or just never open. Even if you really like a specific organization, too many emails from them can still feel like spam.
Unread emails continue to pile up, and the trouble of sorting through everything makes people put it off even more. Does this look familiar to you.
Visit Us: Online Messengerhttps://www.akia.com/blog/why-hotels-need-to-implement-text-message-marketing
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- VK
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3 years 10 months ago - 3 years 10 months ago #23273
by VK
Cheers
VK
Replied by VK on topic Hotels Need to Implement Text Message Marketing | Akia AI
F**k off spammer (AkiaAI)
Cheers
VK
Last edit: 3 years 10 months ago by VK.
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