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Parameters are usually set for the system to follow during transactions. This page also allows you to specify the tax types applicable for the company. You can set the process parameters as well as the functional default values. The system saves the parameters and the function defaults along with the login ID of the user and the system date.
Select the “Set Function Parameters – TAX” link from the “Company Parameter Setup” business component.
The “Set Function Parameters – TAX” page appears.
Enter the following fields in the “Process Parameters” group box:
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Tolerance % For Tax Amount Correction |
The percentage of modification that is permitted on the tax amount that has been calculated (Decimal). The system displays an error message if the value entered in this field is not greater than or equal to zero. |
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Tolerance (flat) For Tax Amount Correction |
The amount of modification that is permitted on the tax amount that has been calculated (Decimal). The system displays an error message if the value entered in this field is not greater than or equal to zero. |
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Declaration Calendar Same As Financial Calendar |
Use the drop-down list box to specify whether the declaration calendar is same as the financial calendar. It can be “Yes” or “No”. |
Enter the following details in the “Tax Details” multiline:
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Tax Type |
Use the drop-down list box to specify the tax type. The system retrieves all the possible tax type from the “Tax Setup” business component. |
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Tax Community |
Use the drop-down list box to specify the tax community. The system retrieves all the possible tax community from the “Tax Setup” business component. |
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Registration No. |
The number identifying the registration. |
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OU For Tax Closure / Declaration |
Use the drop-down list box to specify the organization unit in which Tax closure / declaration can be done. All the organization units where the Tax Settlement Component has been deployed will be available for selection. The system displays the first value by default on launch of the page. |
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Default Calculation |
Use the drop-down list box to specify the default calculation. It can be “Yes” or “No”. |
Click the “Set Parameters” pushbutton to set the parameters for Tax.
The system saves the parameters that have been defined. The system also stores the login ID of the user and the system date along.
