Exact Globe+

Creating and maintaining tax schedules

Menu path

System ➔ General ➔ Countries ➔ Tax schedule

Introduction

Indirect taxes are taxes not based on profits of companies such as Sales Tax, Goods and Services Tax (GST), Environmental Tax, and others. The taxation structures vary among countries and the complexities in tax calculations increase with the multiple tax structures practiced in some of the countries.

In this screen, you can create and maintain various tax calculations and select accurate tax codes.

What version are you using?

The information in this document is based on product update 407 and higher. If you have versions lower than this, certain features explained here will not be applicable.

How do I create a tax schedule?

In the System / General / Countries / Tax schedule screen, click New.
Define the fields.
Click Save.

How do I edit the tax schedule?

In the System / General / Countries / Tax schedule screen, define the search criteria.
Click Search.
Select a tax schedule.
Click Open.

Fields

Basics tab

Criteria section

Country code

Type or select the country code for the tax schedule to be created. This field is mandatory. You can create countries at System ➔ General ➔ Countries ➔ Countries. For more information, see Creating and maintaining countries.

Transaction type

Select the transaction type for the tax schedule. Select Purchase to create tax schedules for purchase transactions, Sales for sales transactions, or Both if you want to create tax schedules for both purchase and sales transactions. By default, Both is selected.

Account classification

Type or select the account classification for the tax schedule. You can select CA (Corporate Account), LA (Large Account), LE (Large Enterprise), ME (Medium Enterprise), and SE (Small Enterprise). You can also add more classification options by creating classifications at System ➔ General ➔ CRM ➔ Classifications. For more information, see Creating and maintaining classifications.

Account

Type or select the account for the tax schedule to be created. This field is mandatory. For more information, see Creating and maintaining accounts receivable.

Item assortment

Select the item assortment for the tax schedule to be created. You can only select the assortment based on the assortment options defined at Item assortment under the VAT section at System ➔ General ➔ Settings ➔ General ledger settings. For more information, see Creating and maintaining assortments.

Note: This field is available only if the Assortment for tax use check box is selected at System ➔ General ➔ Settings ➔ General ledger settings. For more information, see General ledger settings.

Item

Type or select the item for the tax schedule to be created. This field is mandatory. For more information, see Creating and maintaining items.

Extra charges

Type or select the extra charge for the tax schedule. This field is mandatory.

Note: This field is available only if the Use tax module check box under the VAT section at System ➔ General ➔ Settings ➔ General ledger settings is selected. For more information, see General ledger settings.

Tax section

Tax code

Type or select the tax code for the tax schedule to be created. This field is mandatory. For more information, see Creating and maintaining tax codes.

Tax code 2 to Tax code 5

Type or select the tax codes. These additional fields are for different tax codes.

Tax per unit

Type the tax amount per quantity of unit sold. This field is defined at Sales VAT code under the Basics tab in the item maintenance screen. For more information, see Creating and maintaining items.

Note: This field is not applicable for purchase entries and is only available when Sales is selected at Transaction type. For more information, see Creating and maintaining items.

Tax per unit 2 to Tax per unit 5

Type the tax amount per quantity of unit sold. These additional fields are for different tax amount per unit.

Sales unit

This will display a total of all five tax amount per quantity of units sold.

Log tab

You can view the log of all the changes made in the tax schedule maintenance screen. All the information in this section cannot be modified.