Change Your Tax Rate
Change the tax rate that you apply on all new sales orders.
Assume your local taxing authority changes their tax rate from 6% to 6.5%, starting on October 9, 2020.
If the Ordered Date on the sales order happens.
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Before October 9, 2020, use the 6% rate.
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On or after October 9, 2020, use the 6.5% rate.
Assume you currently use a Tax Classification Code named A-RATE. You want to continue to use A-RATE but change its percentage from 6 to 6.5.
Try it.
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Go to the Setup and Maintenance work area, then go to the task:
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Offering: Financials
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Functional Area: Transaction Tax
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Task: Manage Tax Rates and Tax Recovery Rates
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On the Manage Tax Rates and Tax Recovery Rates page, search for the value.
Attribute
Value
Tax Regime Code
VISION_TAX_REGIME
Tax
A-TAX
Tax Jurisdiction Code
Is Blank
Tax Rate Code
A-RATE
To get the values you need to search on, click Actions > Export to Excel. In Excel, locate your tax classification code in the Tax Rate Code column, then use values in the row that contains your tax classification code.
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In the search results, click the value.
Attribute
Value
Tax Rate Code
A-RATE
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On the Tax Rate page, in the Rate Periods area, notice the values.
Attribute
Value
Rate Percentage
6
Effective Start Date
31/01/20/
where
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31 is the day
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01 is the month
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20 is the year
This is the rate that's currently in effect. You will change it to 6.5.
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Click Edit.
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On the Edit Tax Rate page, in the Rate Periods area, set the values.
Attribute
Value
Rate Percentage
6
Effective End Date
8/10/20
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Click Add Row, then set the values.
Attribute
Value
Rate Percentage
6.5
Effective Start Date
9/10/20
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Verify your rates, then click Save.
Rate Percentage
Effective Start Date
Effective End Date
6.5
9/10/20
Empty
6
31/01/20/
8/10/20