Deduction Rates | |
|---|---|
Apply Deduction | This box is checked if the asset will be applied deduction. |
Sales Deduction Rate | This is the deduction rate which will apply in sales transactions for the assets to be applied deduction. The default value for the deduction rate is specified in System Settings module > Defaults and Parameters > General > Sales Management Defaults and Parameters > Deduction Numerator and Deduction Denominator lines. It can be changed. |
Purchase Deduction Rate | This is the deduction rate which will apply in purchase transactions for the assets to be applied deduction. The default value for the deduction rate is specified in System Settings module > Defaults and Parameters > General > Purchasing Management Defaults and Parameters > Deduction Numerator and Deduction Denominator lines. It can be changed. |
Sales/Purchase Deduction Code | The code options, which are published by GIB (Revenue Administration), are accessed from Deduction Codes browser. Deduction Codes browser opens by clicking the browse button in Deduction Code field. Deduction code and rate information - which is defined in Asset record - is automatically transferred to the asset line when the asset is selected in an invoice, however they can be changed if necessary. |
Actual Market Value | The market value of the equipment. The value is recorded separately in local and reporting currencies. |
Fixed Asset | This field is used to specify whether depreciation will be calculated for the equipment. Depreciation calculation can be performed if this field is checked. |
Production Instrument | This field is used to specify whether the equipment will be used in production. If checked, it can be used as a means of production. |
Output | If the Output option is checked when the equipment is decommissioned, it will appear as checked automatically in equipment card. |