FA & Tax Books

[yknev]

Hi,

What is the difference between Tax Book and Corporate Book.

Thanks & Regards,
Yknev

[milind3112]

Hello,

Corporate Book:
This Book mainly used for Accounting Purpose, means Assets Creation, Deprecation, Retirement, Sale of Assets - All trx accounting happen from this Book. Corporate Book mainly used to meet Statutory Requirement. While defining Corporate Book Post to GL should be enabled.

Tax Book:
Tax Book is mainly used for Tax Calculation purpose. If you are in India then no need to define Tax Book. Because in India Localization there are different steps to calcualte Income Tax Deprecation.
Whenever Tax Book is defined then Post to Gl option is disable. So No accounting transferred from this Book.

Hope this information will clear your doubts.
Best of Luck
Regards,
Milind

[yknev]

Tax Book is mainly used for Tax Calculation purpose. If you are in India then no need to define Tax Book. Because in India Localization there are different steps to calcualte Income Tax Deprecation

could you provide the one example for calculation of income tax depreciation.

Regards,
Yknev

[admin]

calculation of income tax depreciation > Depreciation calculation for tax calculations purposes.

[yknev]

Hi,

How to implement the method for calculation of income tax depreciation.

Regards,
Yknev