Specifying a Tax Rate Method

Access the Rounding Options Revisions form.

Company

Specify the company for which you set up the record.

If the system does not find a record for the company and tax rate area of a transactions, it looks for a record for the tax rate area for company 00000. If the system does not find that record, it issues an error message in the Work Center.

Tax Rate Area

Specify the tax rate area for which you set up the rounding option.

Rounding Option

Specify the rounding option to use when rounding tax amounts. Values are:

0: Round. If the next decimal place of the unrounded tax amount is less than or equal to 4, then the decimal places after the specified decimal place are ignored. If the next decimal place of the unrounded tax amount is greater than or equal to 5, then the system adds 1 to the digit preceding the specified decimal and drops the digits after the specified decimal.

1: Round up. If any digits exist after the specified decimal place, the system adds 1 to the digit preceding the specified decimal and ignores the digits after the specified decimal.

2: Round off: The system calculates the tax, then drops all of the decimal places of the unrounded tax amount after the specified decimal to produce the final tax amount.