Introduction/Purpose: 

The tax group organises related taxes for efficient administration. It simplifies compliance by applying consistent rules to interconnected taxes, reducing burden and promoting uniformity.

How To Navigate To Tax Group: 

The navigation includes the following steps for viewing the tax group in the Financial Accounting system

• Click on the master tab: The master can be accessed by clicking on the master tab on the side menu.

• Click on tax group:  The tax group can be accessed by clicking it from the tax section.

Listing:

A tax group listing in a Financial Accounting system is a feature that provides a list of all tax groups.

• Users can view the following information on the tax groups listing page
  • Tax group name 
  • Tax class 
  • Fas code 
  • Sale calculated on 
  • Sale per 
  • Purchase calculated on 
  • Purchase per 
  • Attachment 
  • Approval status 

User can perform the following actions 

• Add new: The “Add new” function allows you to create and add a new tax group to the system.

• Show all listing records: The “Show all listing” function is to display and update a list or collection of tax groups within a system or interface.

• More options: The “More options” function provides the user with more actions or functionalities.

• Clear cache: The “Clear cache” function is the process of deleting temporary files, data, or stored information that is stored in a cache.

• Print records: The “Print Records” function allows users to generate physical or digital copies of the records or information displayed on the screen. 

• Search: “The “Search” function allows the user to look for a specific entry within the available data and presents the results that match the search parameters.

• Quick search: The “Quick Search” function refers to a simplified or streamlined search function that enables users to perform a rapid search for specific records or information.

Recording & Update:

Add New Tax Group: 

• Tax group name: The “Tax group name” refers to the designation or label given to a specific grouping or classification of taxes within a tax system.

• Valid from: The “Valid from” refers to the starting date or effective date from which a particular tax group or tax-related information becomes valid or applicable.

• Valid till: The “Valid till” refers to the end date or expiration date until which a particular tax group or tax-related information remains valid or applicable.

• Status: The “Status” refers to the current condition or state of a particular entity or item.

• Tax class: The “Tax class” refers to the classification or category of a specific tax within a tax system. 

• Apply on sales: The “Apply on sales” refers to whether the tax group or tax class is applicable to sales transactions.

• Default output tax: The “Default output tax” refers to the predetermined or standard tax rate or amount applied to the output or sales transactions within a tax group or tax class.

• Sales output tax: The “Sales output tax” refers to the tax amount charged or levied on sales transactions within a tax group or tax class.

• Sales %: The “Sales %” refers to the tax rate or percentage applied to sales transactions within a tax group or tax class.

• Sale calculated on: The “Sale calculated on” refers to the basis or method used to calculate the taxable amount for sales transactions within a tax group or tax class.

• Apply on purchase:The “Apply on purchase” refers to whether the tax group or tax class is applicable to purchase transactions.

• Purchase output tax: The “Purchase output tax” refers to the tax amount charged or levied on purchase transactions within a tax group or tax class. 

• Input tax credit: The “Input tax credit” refers to the tax credit or deduction that a business can claim for the taxes paid on its purchases.

• Purchase %: The “Purchase %” refers to the tax rate or percentage applied to purchase transactions within a tax group or tax class.

• Purchase calculate on The “Purchase calculate on” refers to the basis or method used to calculate the taxable amount for purchase transactions within a tax group or tax class.

• Remark: The “Remark” refers to additional comments, notes, or observations related to a specific item or transaction.

• Action: The “Action” typically refers to a specific operation or task that can be performed on a particular item or within a system

Users can perform the following actions 

• Submit: The “Submit” function allows the user to submit the required information while creating a new tax group.

• Discard: The “Discard” function allows the user to cancel the submission of information provided at the time of creating a new tax group.