Setting Up the Business Rules for Tax Reporting

You must define a business rule for the Tax Reporting reports. The rule sets the tax indicator that allows the tax reports to distinguish between the gross, net and tax transactions. The business rule must identify the gross, net and tax account codes within your chart of accounts.

Note:  The account codes used in these steps refer to those in the PK1 demonstration business unit.

You must create an event profile for the Tax Reporting function. You must then define a rule set for this profile that sets the Gross/Net/Tax indicator on each transaction to Gross, Net or Tax for the account ranges identified:

Account Code Ranges Set Indicator
64001 to 64999 (Debtor accounts) Gross
10000 to 19999 (Income accounts) Net
94000 to 94999 (Tax accounts) Tax
  1. Select Event Profiles (EVP).
  2. Enter a new event profile code, click OK and create the new profile.
  3. Enter a description and click OK.
  4. Click Detail to display the Condition details.
  5. Click Create.
  6. Enter the following condition field details to define the If Function Code = Tax Reporting statement. You must press Enter or click OK after each field to accept the information.