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TX03.1 - Tax Rate
Use Tax Rate (TX03.1) to define tax rates and assign them to tax codes.
Tax rates are independent of your company, making it easier for you to change
tax rates in the future.
**Processing Effect
You can define several tax rates for the same tax code with different
effective dates. Effective dates determine which tax rate for the tax code
should be applied to the transaction. When you enter a transaction and apply
a tax code to it, the application compares the transaction date to the most
recent tax rate effective date on or before the transaction date to decide
which tax rate to apply.
Updated Files
TXCODEMAST -
TXTAXRATE -
Referenced Files
TXTAXCODE -
TXTAXTABLE -
TX03.2 - Category Override Tax Rates
Use Category Override Tax Rates (TX03.2) to override a tax rate by product
tax category. For example, you can set up a product tax category for a group
of items that are taxable in one state but not another, such as tobacco
products.
You define an item's taxability and product tax category in the Inventory
Control application, when first adding the item.
Updated Files
TXCODEMAST -
TXTAXRATE -
Referenced Files
TXTAXCODE -
TXTAXTABLE -
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