Tax Options Window

This window appears when you press <End> in the Tax Code Maintenance Window

Note

The three character tax abbreviation in this window (VAT in the figure above) is determined by the setting of the 'Tax reference' parameter in the Operating Options Window - Part Two.

Purpose

This window enables you to select various tax options and to define standard tax codes.

The prompts are:

EC processing

(Y/N.) Enter Y if you are going to record sales and purchases subject to EC taxation.

Code for EC supplies

Enter the code identifying tax on sales to the EC as defined in the Tax Code Maintenance window. This is the default for the EC tax code when creating new products. A pop-up enquiry is available.

UK processing.

(Y/N.) Set this to Y if tax is to be calculated on net reduced by settlement discount. Set to N to calculate tax on complete net. This should be set to N for use in the Republic of Ireland

Note

If UK Processing is selected, the Calculate by Line and Wholesale Processing options are automatically set to N, and the wholesale price list name is cleared. This is because these items do not apply to tax in the UK at this time.

Calculate by line

(Y/N.) Set to Y if tax is to be calculated line by line per invoice. This is automatically set to N if UK processing has been selected, and should be set to N for other EC countries.

Round to nearest

(Y/N.) If set to Y it causes the tax calculation to round to the nearest second decimal place (i.e. cents, pence etc) rather than truncating.

Wholesale processing

(Y/N.) Normally set to N. Y is only relevant to countries operating a wholesale tax system, e.g. Australia.

Wholesale price list

(Only applicable if the previous option is set to Y.) Use this price list to contain the maximum taxable values.

VAT reconciliation report

(Y/N.) Enter Y if you want to use the VAT Reconciliation Report feature, otherwise enter N. The default is Y.

 

The VAT Reconciliation Report is an option in General Ledger which requires the recording of additional information relating to the 'tax class' of transactions. When you set this indicator to Y, the programs in General Ledger, Debtors Ledger and Creditors Ledger automatically record this extra information. If you want to use the feature, you should therefore set this indicator to Y and not change it.

 

If you use this option tax analysis in Debtors Ledger and Creditors Ledger cannot be performed by batch.

 

If you are not using the feature you can change the indicator from N to Y to start using it.

Note

This feature is only available for postings from Debtors Ledger and Creditors Ledger to General Ledger made via the 'BOS' interface; i.e. it is not available for postings from standard Global 2000 applications nor from versions of standard Global 3000 applications earlier than 4.2.

Code for domestic supplies

Enter the code for domestic and non-registered EC sales as defined in the Tax Code Maintenance window. This is the default for the domestic standard rate tax code when creating new products. A pop-up enquiry is available.

Code for exempt supplies

Enter the code for tax-exempt supplies as defined in the Tax Code Maintenance window. A pop-up enquiry is available.

Code for overseas supplies

Enter the code for normal orders delivered overseas as defined in the Tax Code Maintenance window. A pop-up enquiry is available.

Code for zero-rated supplies

Enter the code for zero-rated sales orders as defined in the Tax Code Maintenance window. A pop-up enquiry is available.

On completion

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