User-Defined Fiscal Classifications
Use user-defined fiscal classifications when you need additional classifications to determine and report tax on transaction. Enter user-defined classifications on a transaction line at the time of transaction.
Use the Country field to specify the applicable taxation country, or leave it blank to use the user-defined fiscal classification across multiple countries. At transaction time, the transaction line will only display the user-defined fiscal classifications with the same taxation country, or where the country is blank.
User-Defined Fiscal Classifications in Tax Rules
The user-defined fiscal classification tax determination factors allow you to use user-defined fiscal classification in tax rules. A combination of determination factor class and determining factor represent these determination factors.
Use the transaction input factor as the determining factor class and user-defined fiscal classification as the determining factor.
The value entered against the condition set is the specific user-defined fiscal classification code or name and the same country or where the country on the user-defined fiscal classification is blank.
User-Defined Fiscal Classifications at Transaction Time
During transaction time, enter the user-defined fiscal classification on the transaction line to classify the transaction for tax determination and reporting purposes.
The user-defined fiscal classification is stored in the tax reporting ledger and is available for reporting.