Value Added Tax Code Maintenance - Field Descriptions

Refer to the table below when completing the fields in the New or Edit Value Added Tax Code window.



Value added tax code

Enter a unique tax code.


(Optional) Enter a description of the tax code. Text entered here will display on the main screen and in the Search Value Added Tax Codes window.

Tax percent

Enter the tax percent value, up to 99.9999.

Invoice text

(Optional) Enter the text that will display on A/R invoice forms and other billing forms. For example, you might want to enter the "Registrant Number" or other required information.

G/L accounts

Customer current tax payable

Customer retention tax payable

Vendor current input tax credit

Vendor retention input tax credit

  • Select a non-direct cost G/L account code for each of these fields.

  • A warning displays if you select an Inactive account, but you will be allowed to continue.

  • The G/L account description displays after an account is selected.

  • When Enterprise Installation option for Cost centers is set to Yes or Pending in this company, then when adding or changing a tax code, the system will allow entry of a G/L account code only if the operator entering the G/L account has permission to assign that code. The system compares the G/L account's list of shared cost centers with cost centers in the operator's assigned scheme, and if there are no common cost centers, then that G/L account cannot be assigned.

  • Once a G/L account code has been assigned to a tax code (by an authorized operator), then that G/L account will be used by all operators for processing involving that tax code.

View example of completed window: