Tax Preferences
Form ID: (TX103000)
On this form, you can specify the tax preferences that will be used in the tax subledger.
If the Net/Gross Entry Mode feature has been enabled on the Enable/Disable Features (CS100000) form, you need to specify the accounts and subaccounts (if applicable) where the amounts related to tax rounding gains and losses will be posted; that is, the boxes in the Rounding Settings section are mandatory.
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Numbering Settings Section
In this section, you specify the numbering sequence for tax adjustments.
| Element | Description |
|---|---|
| Tax Adjustment Numbering Sequence |
The numbering sequence that will be used by the system for the Adjust Output and Adjust Input types of documents created on the Tax Adjustments (TX301000) form. You can select the predefined TXADJUST numbering sequence or set up another sequence on the Numbering Sequences (CS201010) form. |
Rounding Settings Section
In this section, you specify the accounts and subaccounts to which the system will post the amounts of the tax rounding gains or losses.
If either the Invoice Rounding feature or the Net/Gross Entry Mode feature has been enabled (or both features have been enabled) on the Enable/Disable Features (CS100000) form, causing the Rounding Limit box to appear on the General Ledger Preferences (GL102000) form, the system will take into account the limit defined in this box when it posts the tax rounding gains or losses. Documents that exceed this limit will not be released.
| Element | Description |
|---|---|
| Tax Rounding Gain Account | The expense account that accumulates the amounts resulting from tax rounding gains. |
| Tax Rounding Gain Subaccount |
The subaccount that corresponds to the tax rounding gain account and accumulates the amounts resulting from tax rounding gains. This box appears on the form if the Subaccounts feature is enabled on the Enable/Disable Features (CS100000) form. |
| Tax Rounding Loss Account | The expense account that accumulates the amounts resulting from tax rounding losses. |
| Tax Rounding Loss Subaccount |
The subaccount that corresponds to the tax rounding loss account and accumulates the amounts resulting from tax rounding losses. This box appears on the form only if the Subaccounts feature is enabled on the Enable/Disable Features (CS100000) form. |
ECM Settings Section
In this section, you specify the exemption certificate management (ECM) provider account.
| Element | Description |
|---|---|
| ECM Provider |
The tax exemption certificate management (ECM) provider account, which the system will use to provide the exemption certificate management functionality. For details, see Exception Certificate Management: General Information. |