Example: Component Calculated on Net Basis
These amounts and rates are used in this example:
Cost Amount: 100.00
Component Rate: 10.00 percent
Tax Rate/Area: 3.8 percent
The component total invoice amount is calculated on the invoice taxable amount from the base record.
Calculation |
Invoice Taxable Amount (ITXA) |
Invoice Tax (ITAM) |
Total Invoiced Amount (ITOL) |
|---|---|---|---|
Base Record |
100.00 |
3.80 |
103.80 |
Component |
9.63 |
.37 |
10.00 |
Invoice Amount with Component |
113.80 |