Enter a 10-character, uppercase, alphanumeric tax schedule. Each code must be unique.
Enter up to 30 characters for a tax schedule description.
Use the drop-down box to select the type of tax schedule. The valid options are:
Sales – A tax imposed on the sale of a wide range of goods and services. Although this tax is collected from sellers at the retail level, consumers bear the cost. A sales tax is applied when the buyer and the seller reside in the same state within the United States.
Use - A use tax is similar to a sales tax because it is imposed on the sale of a wide range of goods and services. It is collected from sellers at the retail level and consumers bear the cost of the use tax. A use tax must be paid on all purchases if the proper amount of sales tax has not been paid. Typically, a use tax is applied when the buyer resides in a state that is different from the seller within the United States.
Value Added - VAT is a form of indirect tax applied to the value added at each stage of production (primary, manufacturing, wholesale, and retail). This tax is much like the sales tax paid in the United States. The main principle of VAT is that governments do not charge the tax on exports of goods to other countries. Originally introduced in France (1954), it is now a major part of the tax structure of most Western European nations.
The default value for the drop-down box is "Select." If you do not select a value in the Type drop-down box before selecting the Save function, the system will display the following error message will display: "Tax Type is required."
Select this checkbox if you require the user to enter a tax location in the Expense Report Wizard screens. The valid values that will display in the Expense Report Wizard Tax screens for location will be based on what is entered in the Rates tab of this screen.
If the checkbox is left unchecked, the Tax Location field will not display in the Expense Report Wizard screens. By default, this checkbox is unchecked for new tax schedules.
Use the drop-down box to select whether this tax schedule is a "One" or "Two"-tier schedule. When you use a one-tier tax, the system multiplies the expense amount by one percentage amount to get the tax amount. When you use a two-tier tax, the system multiplies the tax amount by a percentage. Then it multiplies that percentage by a second percentage and adds the two percentages together to get the tax amount. The default value is "One."
Select this checkbox if you require the user to enter a tax ID in the Expense Report Wizard screens. If the checkbox is left unchecked, the Tax ID Required field will not display in the Expense Report Wizard screens. The default value on a new tax schedule is checked.
In this section, define the labels for the tax rates based on the selected Locale. If you select "One" as the Tier, only Rate 1 will be available.
Use the drop-down box to select the locale that you wish to use to set up labels. The default locale is based on your company’s default country and language codes. For a new tax schedule, the text entered for the labels is duplicated for every locale set up in the General Configuration screen.
Enter the label for the tax schedule's rate 1. If you do not supply a label in this field before selecting the Save function, the system will display the following error message: "Rate 1 Label cannot be null."
Enter the label for the tax schedule's rate 2. If this is a "Two" Tier tax schedule and you do not supply a label before selecting the Save function, the system will display the following error message: "Rate 2 Label cannot be null."
Use this section to provide default values that will display when you add a new rate in the Rates tab.
Enter the tolerance % that will display as the default when you add a new tax rate in the Rates tab.
Enter the rate 1 % that will display as the default when you add a new tax rate in the Rates tab.
Enter the recovery % for rate 1 that will display as the default when you add a new tax rate in the Rates tab.
Enter the rate 2 % that will display as the default when you add a new tax rate in the Rates tab.
Enter the recovery % for rate 2 that will display as the default when adding a new tax rate on the Rates tab.
