Example of Using Rounding Level on Tax Lines
The rounding level on a tax line shows in order of precedence, the party type, source, and rounding level value. The rounding rule is the method used to round off taxes to the minimum accountable unit.
To know how rounding is determined or to modify the setup, use the dialog details in conjunction with the party information.
Scenario
For example, on the Rounding Level dialog box for a purchase invoice you see the following:
Rounding Precedence |
Party Type |
Source |
Rounding Level |
---|---|---|---|
1 |
Bill-from party |
Supplier site |
|
1 |
Bill-from party |
Party tax profile |
Header |
2 |
Bill-to party |
Supplier site |
|
2 |
Bill-to party |
Party tax profile |
Line |
3 |
Ship-from party |
Supplier site |
|
3 |
Ship-from party |
Party tax profile |
Line |
4 |
Ship-to party |
Supplier site |
|
4 |
Ship-to party |
Party tax profile |
Header |
Default |
Header |
Level 1 precedes all other levels; the default precedence is used only when the other levels aren't populated. When the rounding level is blank, no attribute is set for that level.
In this example, when the bill-from party tax profile rounding level of Header is incorrect, you can identify the bill-from party from the Tax Line Details header information and query the appropriate party tax profile to modify the setup.
This is a simple example which uses header level for rounding. For rounding at Line level, you need to derive party type for the Determine Tax Registration rule.