Tax Basis

Enter the taxable monetary amount on which the tax amount is based.

The display order of the Tax Code fields depends on the tax system. The tax code defined by you as the rate tax code always displays above the tax code defined as the exempt tax code.

If the tax system is an area-based tax system, the [Tax Code Label] field represents the rate tax code and displays above the [Tax Item Code Label] field, representing the exempt tax code. If the tax system is an item-based tax system, the [Tax Item Code Label] field now represents the rate tax code, and displays above the [Tax Code Label] field, now representing the exempt tax code.

On the Generate A/P Transactions form, the total of the taxable monetary amounts of the pending material transactions on the PO Selection tab is entered automatically in this field when you click Generate. If you change the Tax Basis amount, the Sales Tax amount is automatically recalculated.

On the Generate Landed Cost Vouchers form, the total of the taxable monetary amounts of the pending receipt transactions on the Receipts tab is entered automatically in this field when you click the Generate Tax button. If you change the Tax Basis amount, the system asks if you want to recalculate the Sales Tax amount.