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Overview
This screen contains Tax information that will be used throughout the FreeBalance Accountability Platform.
Navigation
Admin ► Common Entities ► Taxes
Tax screen Fields
Field | Description |
ID | Unique identification code of the tax which is system generated. |
Active | If false, the Tax cannot be used anymore and it would be there for reference purpose only. |
Is Tax 1 | This attribute will be updated by the system to checkmarked when the Tax Code corresponds to Tax 1 in the FreeBalance Classic Application or not checkmarked when it corresponds to Tax 2. This attribute will be used only for Tax Codes that come from the FreeBalance Classic Application during synchronization. |
Include Tax 1 in Tax 2 Calculation | If checked, Tax 1 amount will be included on Tax 2 calculations. Visible only when the attribute Is Tax 1 is not checkmarked. |
Default Tax For Transaction | Whether the tax mentioned is the defualt tax for transaction. |
Registration Number | Identifies the organization’s government assigned number for this specific tax. |
Rebate Percentage | Percentage of the tax that is subject to be refunded. |
Coding Block | Ledger coding block. It defines the account to which the tax amounts will be posted. |
Rebate Offset Code | It defines the account to which the rebate amounts will be posted. |
Cash Receipts Offset Code | It specifies the bank account into which the tax revenue will be deposited. |
| Tax Type | Indicates type of the tax. |
Language | Language used to describe taxes. |
Abbreviation | Shortened form of a specific Tax. |
Description | Short description of the Tax. |
Tax Percentage | The percentage of tax with the date from which the tax would be effective is mentioned here. |