Brokerage Calculation

Here are the steps to Brokerage Calculation in Radix. To learn more, you can also watch this RADIX Online tutorial video:

To Perform Brokerage Calculation in Radix, follow the steps below:

After logging in to the Company Main menu, go to Transactions > Brokerage Calculation.
Brokerage Calculation [0905] form will open. Enter or select the required details such as:

Broker - Press F4 button, the list of brokers will be displayed. Select the required broker for whom you want to calculate the brokerage.
Brokerage A/c - Press F4 button and select the brokerage account in which the brokerage expense invoice is to be created.
Transaction Type - Select the required transaction type, such as Sales or Purchase, for which brokerage is to be calculated.
Brokerage On - Select the basis on which brokerage is to be calculated, such as TaxableValue or Net Amount.
Brokerage (%) - Enter the brokerage percentage to be calculated.
From Date - Enter the starting date of the period for which the transactions are to be loaded.
To Date - Enter the ending date of the period for which the transactions are to be loaded.
Party - Press F4 button and select the required party. Select (ALL) to load transactions for all parties.

After entering all the required criteria, click on Load Entries button. The transactions matching the selected criteria will be displayed in the upper section.
In the upper transaction list, select the transactions on which you want to calculate brokerage. The following details are displayed:

SELECT - Select the required transaction for brokerage calculation.
Date - Displays the transaction date.
Doc# - Displays the document number.
Daybook - Displays the Daybook of the transaction.
Party - Displays the party name.
Cheque# - Displays the cheque number, if applicable.
Cheque Date - Displays the cheque date, if applicable.
Notes - Displays the notes entered in the transaction.
Net Amount - Displays the net amount of the selected transaction.

After selecting the required transaction, the related invoice details will be displayed in the lower section.
The lower section displays the details on which brokerage will be calculated, such as:

Date - Displays the date of the invoice transaction.
Doc# - Displays the invoice document number.
Daybook - Displays the Daybook of the invoice.
Party - Displays the party name.
Days - Displays the number of days between the transaction date and the applicable date.
Taxable Amount - Displays the taxable amount on which brokerage is calculated when Brokerage On is set to TaxableValue.
Net Amount - Displays the net amount of the invoice.
Brokerage (%) - Displays the brokerage percentage entered in the Brokerage Calculation criteria.
Brokerage - Displays the brokerage amount calculated according to the selected brokerage basis and percentage.

After selecting the required transactions, click on Generate button.
The system will calculate the brokerage and generate the brokerage expense invoice details in the bottom section.
The generated brokerage expense invoice details will be displayed with the following fields:

Daybook Code - Displays the Daybook in which the brokerage expense invoice will be created.
Doc Number - Displays the document number of the generated expense invoice.
TxnDate - Displays the transaction date of the expense invoice.
Party Bill # - Displays the party bill number.
PartyBill Date - Displays the party bill date.
Invoice Type - Displays the invoice type of the generated expense invoice.
Remarks - Displays the remarks related to the expense invoice.
Amount - Displays the calculated brokerage amount.

The Brokerage amount displayed above the generated invoice section shows the total brokerage amount calculated for the selected transactions.
GST Amount displays the applicable GST amount on the generated brokerage expense invoice.
Net Amount displays the final amount of the brokerage expense invoice after considering the applicable GST.
Verify all the generated brokerage expense invoice details. After verifying the details, click on Submit button.
If TDS is applicable on the brokerage expense transaction, the TDS (Tax Deducted at Source) on Expense confirmation form will open.
The TDS confirmation form displays the following details:

Net Amount - Displays the net brokerage expense amount on which TDS is applicable.
TDS Amount - Displays the TDS amount calculated according to the applicable TDS percentage.
Amount after applying TDS - Displays the amount payable after deducting the TDS amount.

The form will ask “Do you want to pass T.D.S JV?”

Click on OK to pass the TDS Journal Voucher.
Click on Cancel if you do not want to pass the TDS Journal Voucher.

After completing the TDS confirmation, the Brokerage Calculation transaction will be processed and the generated brokerage expense invoice will be recorded in the system.
New transaction can then be started as required by entering the next set of Brokerage Calculation details.

Note:

Once the transaction is processed, open the generated entry from the respective Purchase/Expense transaction list. Select the required entry and click on Print.
Select the required Print Format (Brokerage Detail) and click Print to print the processed transaction.
The printed document will display the TDS Amount deducted on the transaction, along with the other transaction details