Definition: What is it?
The 'Edit Tax Authority' submenu sub menu is the first of six submenus sub menus used in the creation or update of a Tax Authority. On the creation or update of a Tax Authority it is the default screen that is displayed.
What is it used for?
It can be used for updating the basic details of a Tax Authority such as:
- Changing whether a tax id or code is required for an exemption
- Modifying the tax id or code format
- Updating where or not to include the tax calculation as part of the product price
What's on the screen?
TO DO
How do I create a new Tax Authority?
IMPORTANT: You will need to create a party in Party Manager for the tax authority before you can add a new tax authority in the accounting / tax authorities screen.
Steps to create the party to be used for the tax authority are as follows:
- Create New Party Group
- Fill in basic details (eg name, address etc)
- Once the party record is created then add the role of 'Tax Authority' to the party
Only when the tax authority party record is created can you continue.
Example :To add a new tax authority
- Press the 'New Tax Authority' button
- The Edit Tax Authority screen is displayed
- Select or enter the code for the country, state or region that is applicable for the 'Geo' field
- Select or enter the party id of the Tax Authority party that has been created in Party Manager
- Leave the 'Require Tax Id for Exemption' field at its default of 'Y' (NOTE TO CHECK: Am unsure of what this does....Does it not calculate tax if a Tax Id or VAT number for a customer is specified? Need to understand what functionality this is linked to)
- Leave 'Tax Id Format Pattern' blank (NOTE TO CHECK: I think this specifies the format of the tax id so that it can be somehow validated)
- Fill in the 'Include Tax in the price' - the default is 'N'. (NOTE: If prices need to include tax such as GST or VAT in the price then change this to 'Y')
- Press the 'Update' button