Defining Your Tax Company

To define your tax company, you will need to which tax application you use (Lawson or third party), and how you will assign your general ledger accounts. You can assign them at the company level or the tax code level. This procedure describes how to define your tax company.

Before you define your tax company, you must define a company in the General Ledger application.

To define a tax company

  1. Access Company (TX00.1).
  2. Define your tax company. Use the following guidelines to enter field values:
    Tax application

    Select which tax system is being used. You can select Lawson, or one of the interfaced third-party packages:

    • Taxware (for UNIX/Windows)

    • Vertex

    • Quantum

    Use Tax Code Accounts

    Select No to define general ledger posting accounts at the company level, and define the accounts you want to use in the remaining fields -or- if you are using a third party tax package.

    Select Yes to define the accounts at the tax code level. Defining accounts at the tax code level provides more detailed posting information.

    Invoice, Accrued Tax

    Select Invoice or Accrued to indicate how the tax code will affect a taxable transaction.

    • Invoiced tax represents an additional charge to the transaction.

    • Accrued tax represents no increase to the transaction.

Related Reports and Inquiries

To Use
List company options. The report shows such options as tax application, general ledger accounts, and tax point date Tax Company Listing (TX200)