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Administrator Guide
Last Updated: 2023-06-23
Steps: Set Up Taxes for Revenue Transactions

Steps: Set Up Taxes for Revenue Transactions

You can configure default tax applicability and tax codes for customer sales transactions. Tax applicability and tax codes populate on customer contracts, customer invoices, customer invoice adjustments, and cash sales.
  1. Configure a default tax applicability for each revenue category.
  2. (Optional) Create Sales Items.
    Select a default tax applicability for individual sales items. The default tax applicability for the sales item overrides the tax applicability that you define for the revenue category.
  3. On the
    Tax Information
     report on the
    Overview
     profile group:
    • Select the default tax code for each customer.
    • Enter tax identification numbers by country.
    • Specify the
      Transaction Tax ID
       used to report transaction tax for each country.
    • Enter transaction and withholding tax status by country.