The tax country of the tax code.
Posting Data for Tax Codes (tfgld0171s000)Use this session to define the ledger accounts and the default dimensions for tax codes of a specific country. For each tax code, you can define the ledger accounts to which the various tax transactions must be posted. You can only define the ledger accounts that are relevant to the kind of tax of the tax code. Mandatory accounts If the tax code type is other than Normal, you must specify the following ledger accounts:
Optional accounts You can post all other tax amounts on purchase-related transactions to the Purchase Tax account and all tax amounts on sales-related transactions to the Sales Tax account. However, if you want to post the tax amounts of specific transactions such as credit notes and the assignment of advance payments or receipts to specific accounts, you can enter the accounts in the corresponding fields. Dimensions If dimensions are linked to the tax ledger accounts, for invoices LN derives the dimensions from the financial business partner group control accounts. For journal vouchers, LN derives the dimensions from the ledger account of the journal. If mandatory dimensions are linked to the tax accounts and no dimensions are defined for the transaction ledger account, LN uses the dimensions that you specify in the Posting Data for Tax Codes (tfgld0171s000) or the Posting Data for Multiple Tax Codes (tfgld0170s000) session.
Country The tax country of the tax code. Tax Code The tax code. Kind of Tax The kind of tax for which the tax code is defined. For details, refer to Kinds of tax Purchase Tax The ledger account to which tax on purchases is posted. Purchase Tax on Credit Notes The ledger account to which purchase tax on credit notes is posted. To distinguish tax amounts on credit notes from other tax amounts on purchase transactions, enter a ledger account. By default, LN displays the Purchase Tax account in this field. Purchase Tax on Payments (Interim) The interim account for purchase tax amounts. If the tax type is On Payments, you must specify a ledger account. Purchase Tax on Advance Payments The ledger account for purchase tax amounts calculated on advance payments. If you select the Calculate Tax on Advance Payments/Receipts check box in the CMG Parameters (tfcmg0100s000) session, LN posts the tax amounts to this ledger account when you create advance payments. To distinguish tax amounts on advance payments from other tax amounts on purchase transactions, enter a ledger account. Purchase Tax on Assignment of Advance Payments The contra account for tax amounts on assigned advance payments. LN creates a reversal posting of the tax amount on this account when you assign the advance payments to purchase invoices. By default, LN displays the Purchase Tax on Advance Payments account in this field. Shifted Purchase Tax The contra account for shifted purchase tax. If the tax type is Shifted, you must specify the contra account for the reversal entry. For details, refer to Kinds of tax. Social Contribution (Company Expense) The ledger account for social contributions that you handle as costs. If the Withholding Income Tax and Social Contribution check box in the Implemented Software Components (tccom0100s000) session is selected, you can specify a ledger account. Accrued Stamp Tax Account The ledger account to which the stamp tax costs must be posted. This must be a Profit and Loss account. Sales Tax The ledger account to which tax on sales invoices is posted. Sales Tax on Credit Notes The ledger account to which sales tax on credit notes is posted. To distinguish tax amounts on credit notes from other tax amounts on sales transactions, enter a ledger account. By default, LN displays the Sales Tax account in this field. Sales Tax on Receipts (Interim) The interim account for purchase tax amounts. If the tax type is On Payments, you must specify a ledger account. Sales Tax on Advance Receipts The ledger account to which the tax on advance receipts is posted. If you select the Calculate Tax on Advance Payments/Receipts check box in the CMG Parameters (tfcmg0100s000) session, LN posts the tax amounts to this ledger account when you register advance receipts. To distinguish tax amounts on advance receipts from other tax amounts on sales transactions, enter a ledger account. Sales Tax on Assignment of Advance Receipts The contra account for tax amounts on assigned advance receipts. LN creates a reversal posting of the tax amount on this account when you assign the advance receipts to sales invoices. By default, LN displays the Sales Tax on Advance Receipts account in this field. Shifted Sales Tax The contra account for shifted sales tax. If the tax type is Shifted, you must specify the contra account for the reversal entry. For details, refer to Kinds of tax. Dimension To post the tax amounts for this tax code to a dimension of this dimension type, you must select a dimension in this field.
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