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Defining Tax Names

Use the Tax Names window to define the tax names. You indicate the appropriate tax type and rate for the invoice by entering a tax name for an invoice

1. Using a Payables Responsibility choose:

Setup: Tax: Names:

2. Define these tax names:

Tax name
Tax Type
Rate
I00.00/5
VAT
0%
I01.00/2
VAT
1%
I01.50/4
VAT
1.5%
I02.00/1
VAT
2%
I03.00/6
VAT
3%
I03.25/7
VAT
3.25%
I06.50/3
VAT
6.5%
M00.00/5
VAT
0%
M01.00/2
VAT
1%
etc.
VAT


Code Definition (Example)

Position 1
fix
M
Material/Services


I
Investments
Position 2-6
free
xxxxx
definition is free. For example, tax rate
Position 7
fix
/

Position 8
fix
1-7
column in the report

You can define multiple codes with the same code-position 8 (columnno). You can assign different tax accounting flexfields in General Ledger.

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