Purchase formula
How to configure the purchase formula using calculation master?
Calculation Master Use the Calculation master screen to add new captions used for configuring the purchase formula. 1. Click Purchase >> Masters >> Calculation Master. The Calculation Master screen is displayed. 2. In the Name field, enter the name ...
How does a Purchase formula work?
Default Purchase formula: The basic formula is Invoice Amount = A+B+C A = Gross Amount(+) B = Cash discount(-) C = Tax(+) Invoice amount= (Gross amount) + (-Cash discount) + (Tax) How does Default Formula work? Let us see how the default formula ...
Illustration with sample invoice
Example A sample purchase invoice is shown below: Attributes Amount a. Gross amount = (Quantity * purchase rate) = Assessable value Total accessible value @ 45 % of MRP (MRP abated) = X = 2052.00 Excise duty calculation based on 'X' value, that X ...
What is Purchase Formula?
Introduction Purchase formula is a formula used to calculate the invoice amount including the discounts and taxes of the purchase. The default Purchase formula is not always helpful to the users as the invoice amount calculation varies for different ...
How to configure purchase formula using purchase formula screen?
Purchase Formula - MRC calculation Configuration Use the Purchase formula screen to configure the Purchase formula. 1. Click Purchase >> Purchase Formula. The MRC Calculation Configuration screen is displayed. 2. In the Formula name field, enter ...
How to configure the tax based on Item Master?
Tax based on Item Master In certain businesses like Pharmacy, the tax calculation for all the items in an invoice may not be the same. For example, a single invoice may contain many different items. The tax calculation for each item may be based on ...