Chart types for Balance Import

Calculation Code - Use to cross-reference your internal calculation name or code to the system's calculations. A single tax type code refers to an internal code assigned to each transaction record according to the type of event recorded. This code usually represents the transaction type: sale, service, rental, sales subject to use tax, non-fixed location, consumer use, or inventory pulled, and the type of product: General, Food, Prepared Food, Soft Drinks, Liquor, Beer, Wine, or Candy.

Tax Type Code - Use to cross-reference your internal name or code to the system's tax types.  Multiple column transaction/product codes are when you have more than one internal code on each of your transaction records identifying the type of event that occurred for the record. One of the codes represents the type of product involved - General, Food, Prepared Food, Soft Drinks, Liquor, Beer, Wine, or Candy - while the second code usually represents the type of transaction that occurred - sale, service, rental, sales subject to use tax, non-fixed location, consumer use, or inventory pulled.

Product Type or Transaction Type - Use to cross-reference your internal names or codes to the system's tax types.

Default Exemption - Use if you have exemption amounts in your balance import file, but don't have a code in the import file identifying the classification for the exemption. Otherwise, any exemptions amounts found on a balance import file without an exemption category assignment will be assigned to Other Exemptions. Also, you can use a Default Exemption chart if, during the calculation of taxes, you use a calculation code that calculates taxable and/or gross from tax collected or individual tax amounts. At times during these calculations, the system needs to calculate an exemption. By default, these calculated exemptions are assigned to Other Exemptions.

Back-calculation Default Exemption

Exemption Code - Use to cross-reference your internal exemption name or code to the system's exemptions.

Exemption Level

Rate Override - Use if you have an agreement with a state or local authority to collect or pay a negotiated rate that differs from the published rate, and in cases where jurisdictions provide late notices for rate changes which the system's unable to implement prior to release. You can enter and associate your negotiated rate or a late rate change with the affected tax area. By creating this chart, you can process balance data using the special rate.

Tax Code - Use to cross-reference your internal tax codes to the system's tax authorities and tax names. By creating these cross-reference charts, you can create balance import files for transaction data without having to change your internal names or codes on the files.