Use Tax Rates Table
If your organization is located in a jurisdiction that collects use tax on items, you can set up the system for use tax which you can apply during invoice processing. You can define the use tax rates that are available during invoicing by using the Use Tax Rate table.
You can access the Use Tax Rate table via the following menu path:
Admin | Parameters | Acquisitions | Use Tax Rate
For information on modifying this table, see Maintaining System Parameter Tables.
Functionality Information
- Maximum Entries
- This table can hold up to eight use tax rates.
- Adding and Editing Entries in this Table
- To add a new use tax rate, place the cursor at the end of an existing rate and press Enter to add a new line to the table. Enter the new use tax rate on this line.
- To edit an existing use tax rate, select the rate and enter the new use tax percentage.
Data Elements
Entries in the Use Tax Rate table contain the following data elements:
Element | Description |
---|---|
Percentage Rates | Use tax percentage rate. This rate can be up to three places to the left of the decimal point and up to two places to the right of the decimal point (e.g., "102.36"). If the use tax is a negative value, the number can be up to two places to the left of the decimal point. Include the negative sign (e.g., "–14.28"). |