Maintaining data in Companies (T)

To maintain a Company in the Tax Engine:

  1. Expand Master Data applications > General Data.
  2. Select Company Data > Companies.
  3. Click the New icon.
  4. Specify this information:
    Company

    Specify a company. A company is a working environment in which you can carry out logistic or financial transactions.

    Description

    Provide a description of the company.

    Local currency

    Search and select a local currency. Click OK.

    Local Currency is the legal currency of the country in which the company is established and the currency in which you report to the local tax authorities. Accounting and Tax reporting is usually carried out in the Local currency.

    Reporting currency 1

    Search and select a currency. Click OK.

    This is used for companies that are operating in multiple countries. It allows the company to conduct accounting in more than one currency.

    Reporting currency 2

    Search and select a currency. Click OK.

    This is used for companies that are operating in multiple countries. It allows the company to conduct accounting in more than one currency.

  5. Click the Save icon.