Multiple Tax Code Lines (tcmcs0135s000)

Field Information

Country

The country where the tax code is applicable.

Tax Code

tax code

Sequence No.

The sequence number that LN assigns to this part, or line, of the multiple tax code. Country code, multiple tax code, and sequence number together uniquely identify the tax line.

Calculation Method

The way the tax is calculated. For details, refer to VAT Calculation Method.

Expense Purchase Tax

Select this check box if you want to expense purchase tax. LN posts the tax amounts for purchases to the purchase ledger account and dimensions of the goods instead of accumulating them and then deducting the amount from the sales tax payable. You can record the tax amounts in the Accounts Payable module.

The ledger account does not need to be an expense type account. In expense purchase taxapplies to any purchases for internal use.

For matched purchase invoices, LN registers the purchase invoice in the (interim) purchase tax account specified in the Posting Data for Tax Codes (tfgld0171s000) session. During the invoice approval process, LN also reclasses the tax amount to the ledger account and the dimensions of the purchase. For the purchase receipt transaction, LN takes the ledger account and the dimensions of the purchase from the integration tables.

For non-matched purchase invoices with taxes calculated at the transaction-line level, LN posts tax amounts directly to the ledger account and the dimensions of the purchased goods. The (interim) purchase tax account is not used at all.

If LN must post tax amounts for purchases to the (interim) purchase tax account specified in the Posting Data for Tax Codes (tfgld0171s000) session, you must clear this check box.

Tax Authority

The tax authority, to which the tax represented by this line must be reported.

Tax Calculation Date

LN applies the tax rates that are valid on this date to calculate the tax amounts.