Setting Up Default Nature of Transaction Codes on Transaction Records
You can set default nature of transaction codes for bills, cash refunds, cash sales, checks, credit memos, invoices, purchase orders, and sales orders. The default NoTC is automatically selected by the system in the Nature of Transaction Code field when you create a transaction record for the nexus. If a purchase or sales order has been created and processed up to the creation of a credit memo or invoice, respectively, the NoTC value is retained.
For some countries, tax agencies do not allow you to edit your transaction records, so be sure to select the correct code before saving the transaction.
To set a default nature of transaction code for a transaction type:
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Go to Setup > Accounting > Manage Tax Reporting.
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Click the Intrastat Defaults subtab.
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Select a nexus.
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Select a nature of transaction code from the NOTC dropdown list.
Note:The dropdown list shows the codes saved on the Intrastat Reporting subtab.
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Select the transaction type in which this code should appear by default. You can assign multiple transaction types for one NoTC.
Tip:Press and hold the CTRL key to select multiple transaction types.
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Click Add.
Inactivating Default NoTC
If you want to change the default NoTC for a transaction type, you must inactivate or delete the old default NoTC first before adding a new one. When you inactivate or delete a default NoTC, the Nature of Transaction Code field on the Tax Reporting subtab will be blank for new transactions only. Inactivating a default NoTC does not affect previous transactions.
To inactivate or delete a default nature of transaction code:
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Go to Setup > Accounting > Manage Tax Reporting.
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Click the Intrastat Defaults subtab.
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Check the box beside the Default Nature of Transaction Code to be deleted.
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Click Inactivate.