Tax Tab

In reports that load X12 invoice information, the Tax tab fields may be used to load vendor-supplied tax information into invoice lines.

Some fields on the Tax tab display only when the Invoice Tax feature is configured.

If the Invoice Tax feature is configured, and you want to use it with the X12 Invoicing feature and the Book X12 Invoices (Bookinvoicex12) and the Serials X12 Invoices (Serinvoicex12) reports, you must configure the X12 Library Tax policy.

The following options are available on the Tax tab.

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Load Vendor Supplied Tax Amounts

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Tax Fund ID

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Calculate Invoice Taxes Automatically

Load Vendor Supplied Tax Amounts

Specifies how tax amounts supplied by the vendor are to be loaded into linked invoice lines. Select one of the following options.

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Load Vendor Supplied Tax Amounts in Fund Linked Invoice Lines will load the tax amount information from the vendor into Fund invoice lines linked to the fund specified in the Tax Fund ID field.

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Load Vendor Supplied Tax Amounts in Tax/Fund Linked Invoice Lines will load the tax amount information from the vendor into Tax/Fund invoice lines linked to the fund specified in the Tax Fund ID field. This option is selected by default.

Tax Fund ID

Any taxes assessed to invoices created from incoming vendor information will be assigned the specified fund. Use the Browse Fund gadget to select a fund ID. This field is required.

Calculate Invoice Taxes Automatically

Select this check box to add a tax invoice line (or multiple lines, if multiple taxes are applied) with the appropriate tax amount automatically calculated. If tax rebates are used, one or more tax rebate invoice lines are added, if applicable, when you create an invoice line. For more detailed information about this option’s functionality, please see the corresponding bullet under the “Display Preferences” sub-heading in Session Settings Wizard: Acquisitions and Selection Lists.

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Tax Calculation Method – Select a tax calculation method from the list, either Link Tax Amounts to Tax Fund ID (tax and tax rebate amounts are directly linked to a fund) or Link Tax Amounts to Order Funds or Tax Fund ID (similar to adjust linked invoice lines, tax and tax rebate amounts are linked to the funds used in the orders entered on the invoice). The default is Link Tax Amounts to Tax Fund ID.