E.2.2.1 Calculate Tax in Decision/Contract Tab

This topic provides information about calculating the applicable tax during the decision or contract stage.

1. On the Origination, click Origination. Under Origination, click Underwriting/Funding. Under Underwriting/Funding, click Decision/Contract screen.

   The Decision/Contract screen displays.

   Figure E-5 Calculate Tax in Decision/Contract tab

   
   

   
   Description of "Figure E-5 Calculate Tax in Decision/Contract tab"

   
   
2. Click Calculate Tax button. Based on the setup details, system calculates the sales tax for Upfront and Stream category in the following way:
   • If Tax Mode and Tax Method is UPFRONT/PURCHASE_PRICE, the Sales and Usage Tax is calculated and updated into the itemization Cash Sale tax (ITM_CSH_SALES_TAX). On Funding, the tax amount calculated during origination will be part of Lease Receivable based on itemization adjustments.
   • If Sales Tax Mode and Tax Method is CYCLE/ PAYMENT_STREAM, the Sales and Usage Tax is calculated and updated into the Contract fields - Estimated Tax and Tax to record the estimated tax amount and percentage. However, this data is not propagated to Account.