SYTX - xxxx

Tax Rate Calculations
This common code is used to specify tax rates other than the home tax rate. Any tax rate that may be applied to items on Purchase Requisitions, or EN batches if extracted to AP, should be entered in common codes at installation time or when needed. An SYTX common code must be created for each tax rate which you might be billed.

An unlimited number of rates may be entered to accommodate a variety of tax percentages and duty calculations. The common code relates to fields on all the Accounts Payable data entry screens. The tax rates of these common codes are compared to the rate on the SYTX/STATE common code when determining the amount of the automatically created tax records. 

Code Category: SYTX

Code Value: xxxx (Enter up to four characters to be used as the code for the tax rate being entered. Examples are ST for a standard state tax or 10 for a 10% tax rate or USE.)

Short Description: Not required.

Medium Description: Not required. Used to describe the common code. For example: “No tax rate”.

Long Description: Not required. Used to describe the common code. For example: “Vendor does not charge sales tax, but we are liable for amount to state”.

Associated Numeric Values

1: Enter the tax rate to be used. The system will maintain up to five decimal places. For a six percent tax rate, simply enter a 6 in this field. Upon pressing the enter key, the value will appear as 6.00000.

2-5: Reserved for future use.

Associated Codes

1: Reserved for future use.

3: Enter information describing how to calculate the Tax; letters are placed corresponding to each amount that is to be included in the calculation. D=Discount amount, C=Charge amount, U=Duty amount, T=Tax amount (only applies to Tax 2 field; will factor Tax 1 into the calculation). For example, placing "DC" will result in the Discount and Charge amounts to be included in the Tax calculation. If this code is blank, BusinessPlus will default to "DC." To disable this default, you may use any character that is not D, C, T, or U (PowerSchool suggests X).

4: Reserved for future use.

5: Place "EXEMPT" in this field if the Tax Rate for this common code should not be used for automatic tax calculation. Enter "YES" to add tax amount to unit price when extracting blanket POs.

Associated Descriptions

1-5: Reserved for future use.