This section includes the fields and descriptions for the Tax Code tab.
Tax Code Island
| Field | Description |
|---|
| Name
|
In this field, you can enter the name of the tax code.
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Tax Payable Island
| Field | Description |
|---|
| Tax Rate
|
In this field, you can specify the tax rate for the current tax code.
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| Tax Type, Taxable
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In this field, you can specify the tax type of the chosen sublevel to be transferred to tax basis entries created when posting taxable invoices and credit memos.
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| Tax Type, Export
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In this field, you can specify the tax type of the chosen sublevel to be transferred to export related entries created when posting taxable invoices and credit memos.
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| Posting Reference
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In these fields, you can specify the number of a dimension combination which contains the account number and any other dimension values needed when posting payable tax for the sublevel in question. If no value is specified for a dimension in the dimension combination, the value specified on the entry line which gives rise to the tax posting is used.
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Invoices Excl. Tax Island
| Field | Description |
|---|
| Nature of Tax
|
When posting invoices and credit memos, the nature of tax from the tax code of each invoice or credit memo line is transferred to the tax basis entries created. The nature of tax is used in the tax settlement for distinguishing between taxable, tax exempt, and export related entries. In this field you can specify if invoice and credit memo lines using the current tax code should be a part of the company’s tax accounts as taxable sales, tax exempt sales, or export sales when the field “Tax” is marked for the invoice or credit memo in question.
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| Tax Type
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In this field, you can specify the tax type to be transferred to tax basis entries created when posting taxable invoices and credit memos. A tax basis entry is an entry from which tax must be lifted. An invoice or credit memo is taxable if the field “Tax” is selected on the invoice or credit memo. When such an invoice or credit memo is posted, the information in these fields will be transferred to the G/L entries which pertain to invoice lines with the current tax code.
When posting invoices and credit memos, the tax type from the tax code of each invoice or credit memo line is transferred to the tax basis entries created. If tax is to be lifted from the invoice or credit memo in question, the tax type in this field is used. Tax types are created in the popup field “Tax Type” in the window Popup Fields in the Set-Up module.
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Extra Fields Island
| Field | Description |
|---|
| Popup 1-10
|
Select various information about the tax rates. These are pop-up fields, which means that you can choose from the options created for each field. They are created as Tax Popup 1-10 in the Popup Fields workspace. This information is transferred to tax settlement entries so that the tax reports can be grouped by the new tax type fields.
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Tax Receivable Island
| Field | Description |
|---|
| Posting Reference
|
In this field, you can specify the number of a dimension combination which contains the account number and any other dimension values needed when posting receivable tax. If no value is specified for a dimension in the dimension combination, the value specified on the entry line which gives rise to the tax posting is used.
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Access Level Island
| Field | Description |
|---|
| Access Level
|
In this field, you can specify a description and name for an access level for the current tax code. If an access level is specified, only users who have been granted access to this access level or higher can use the tax code when registering information in Maconomy windows. In this window, a user can only see a given tax code if he has been granted access to the access level specified for the tax code in question, or a higher level. Please note that this access control only applies if the standard access control configuration has not been changed in your Maconomy system. If it has, the access to tax codes may depend on other factors. For further information about the standard access control configuration, please see the section “Introduction to the Access Control System” in the SetUp module.
If you do not specify an access level, all users will have access to see information about the current tax code.
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Special Tax Island
| Field | Description |
|---|
| Special Tax Rate
|
In this field, you can specify a tax rate which often represents public charges. The tax is charged to the invoicing party and not the customer being invoiced. Therefore it is not added to the invoice or credit memo amounts.
The charge will only be used in connection with invoice and credit memo postings. If you specify a tax rate here, the calculated charge amount will be posted on the account specified in the dimension combination in the field “Tax” in this window with an offset entry posted on the account specified in the dimension combination in the field “Offset Account” in the island Posting References.
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| Special Tax Type
|
In this field, you can specify the tax type of the chosen sublevel to be transferred to tax basis entries created when posting taxable invoices and credit memos.
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| Posting Reference
|
In these fields, you can specify the number of a dimension combination which contains the account number and any other dimension values needed when posting payable tax for the special tax sublevel in question. If no value is specified for a dimension in the dimension combination, the value specified on the entry line which gives rise to the tax posting is used.
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| Offset Posting Reference
|
In this field, you can specify the number of a dimension combination which contains the account number and any other dimension values needed when offsetting the tax calculated from the value in the field "Tax Rate” for Special Tax. If no value is specified for a dimension in the dimension combination, the value specified on the entry line which gives rise to the tax posting is used.
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| Create Job Entry
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When this is selected, Maconomy creates a closed job entry with the special tax rate for the special tax sublevel chosen.
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| Activity No., Special Tax
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These fields allow you to select an Activity which will be transferred to the entries created when selecting the 'Create Job Entry' field.
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Invoices Incl. Tax Island
| Field | Description |
|---|
| Nature of Tax
|
When posting invoices and credit memos, the nature of tax from the tax code of each invoice or credit memo line is transferred to the tax basis entries created. The nature of tax is used in the tax settlement for distinguishing between taxable, tax exempt, and export related entries. In this field you can specify if invoice and credit memo lines using the current tax code should be a part of the company’s tax accounts as taxable sales, tax exempt sales, or export sales when the field “Tax” is marked for the invoice or credit memo in question.
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| Tax Type
|
In this field, you can specify the tax type to be transferred to tax basis entries created when posting taxable invoices and credit memos. A tax basis entry is an entry from which tax must be lifted. An invoice or credit memo is taxable if the field “Tax” is selected on the invoice or credit memo. When such an invoice or credit memo is posted, the information in these fields will be transferred to the G/L entries which pertain to invoice lines with the current tax code.
When posting invoices and credit memos, the tax type from the tax code of each invoice or credit memo line is transferred to the tax basis entries created. If tax is to be lifted from the invoice or credit memo in question, the tax type in this field is used. Tax types are created in the popup field “Tax Type” in the window Popup Fields in the Set-Up module.
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User Island
See the chapter “Getting Started” for a description of the fields in the User island.