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Calculate taxes on net amount

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Hi,

 

I am trying to post the following transaction using FB50.

 

Dummy A/c           Cr.          1,100,000

Dummy A/c           Dr.           1,100,000 (Tax code used)

Service tax A/c      Dr.            784

SB Cess                Dr.            28

Bank A/c               Cr.             812

 

I have all the necessary tax codes and rates configured. I am selecting Calculate taxes on net amount in the editing options so that the system grosses up the 1,100,000 amount. However, I would like the system to propose the tax amount.

Currently I need to calculate the taxes input the value in the bank account and then post. However, this is not the way it needs to work.

 

Do let me know if there is any way of knowing the tax amount to be posted rather than manually calculating it.

 

Thanks.


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