Tax Names
You can create an unlimited number of tax names for each tax type. In the Tax Names window, you create tax names and assign to each a Tax Type, Account, and Tax Rate. You can assign positive tax rates, zero-percent tax rates for tax-exempt distributions, and negative tax rates for offset taxes. During supplier and supplier site entry, you can assign one Offset tax name, one Withholding tax name, and one Sales, Use, or user-defined tax name. Payables assigns tax names as defaults based on your Tax Name Defaults hierarchy. For information on defining tax names, see: Tax Names. For information on defaulting tax names, see: Defaulting Tax in Payables.
You can assign tax names to expense or asset accounts. For more information see: Deriving Tax From an Account.
