v7 FreeBalance Help

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.

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.