Creating Reserved Words data (T)
Reserved words are codes located in the tax base formula calculation. Every time a tax base is calculated, a formula is applied.
- Expand Tax Engine applications > Master Data.
- Select Reserved Words.
- Click the New icon.
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Specify this information:
- Reserved Words
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Specify an alternative form of a description used for convenience during searching. This field is mandatory.
- Description
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Provide a description of the reserved word.
- Application
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Select an application that will use the currently reserved word. For tax-related calculations, select Tax. For accounting-related reserved words, select Account.
- Reserved Word Type
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Select a reserved word type. This is applied to determine how the reserved word will be composed:
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There are some values that are already evident in the process. These cases were created for the following: Goods Amount, Payment Surcharge, Discount, Freight, Insurance, Other Expenses, Custom Expenses, Total Amount, Item Price total, and Financial Increase.
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There are cases where it is necessary to use a mathematical formula or calculation to obtain the calculation factor. In this regard, use the reserved word type.
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There are cases where the calculation factor is a relationship between taxes. For these cases, use the reserved word type Tax.
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- Tax Type
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Select the appropriate tax type from the list. This field is enabled only if you selected Tax in the Reserved Word Type field. This field determines which percentage index should be used in the composition of the calculation factor.
- Tax Data
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Select a tax data. This field is enabled only if you selected Tax in the Reserved Word Type field.
Tax data determines the tax usage of the reserved word and can be any of the following:
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Amount
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Rate
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Recover
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Reduction
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Net Margin
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Incident value
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Tax Discount
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Amount differential
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Tax Limit
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Incidence on total amount
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Exonerated Amount
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Tax Reduction
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Amt Ship To State
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Amt Ship From State
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Amount Fund Combat Poverty
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Internal Tax Rate Ship-To
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Percentage Fund Combat Property
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Percentual Part To
Depending on tax usage, the Amount option is used when the Account application is selected. The Rate option determines if the reserved word used in formula calculation will be treated as a percentage in the calculation of base amount.
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- Based Formula Calculation
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Search and select a base formula calculation. Click OK.
This field is enabled only if you selected Formula in the Reserved Word Type field. This field is used to indicate the codes of a formula to be used for the composition of the calculation factor.
- Round
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Select the check box to specify whether amount will be rounded off to two decimal places.
- Click the Save icon.
Reserved Words will be displayed in the Formula Editor for Calculation Basis session when you create the Base Formula Calculations of your Taxes.