Tax setup

You must perform tax setup before you can process sales tax. If some or all of your sales are taxable, you must perform some tax setup tasks. You can interface the tax solution with a third-party tax system. This helps to minimize the amount of time you spend tracking tax regulations and maintaining tax rates.

The Infor Tax solution uses the base company structure that is set up in the Global Ledger and Receivables.

Before you begin setting up the Tax solution, you must make some decisions:

• Whether to view taxes in summary or with details
• Which global ledger accounts to use for posting
• Will your tax codes to affect taxable transactions as an invoiced or accrued tax

These are some of the Tax setup tasks:

• Tax codes
• Calendars
• Entities
• Usage codes
• Entity tax codes
• Product tax categories
• Foreign economic regulatory codes
• Global document types
• Global line types
• ICN codes
• Intrastat nature of transaction codes (NAT)
• Intrastat port codes and statistical procedures
• Intrastat units of measure