Purchase Contracts for the United States
The Purchase Contracts module supports tax calculation in the United States. To provide you with more accurate tax calculations, a number of fields have been added to the Purchase Contract page.
On the General FastTab, the following fields have been added:
| Field | Description |
|---|---|
| Tax Liable | Specifies at header level if the vendor that's selected for the contract is liable for sales tax. |
| Tax Area Code | Specifies at header level what tax area is used for calculating and posting sales tax. |
On the Lines FastTab, the following fields have been added:
| Field | Description |
|---|---|
| Tax Liable | Specifies at line level if the vendor that's selected for the contract is liable for sales tax. |
| Tax Area Code | Specifies at line level what tax area is used for calculating and posting sales tax. |
| Tax Group Code | Specifies the tax group that's used for calculating and posting sales tax. |
From the Purchase Contract page, you can also access the Purchase Contracts Statistics page, which provides a tax breakdown of the selected purchase contract by tax area, tax group, and tax jurisdiction. From here, you can even define tax amounts manually – and these are then distributed among the purchase contract lines.
Any taxes defined like this from the Purchase Contracts module are considered when you register documents in the document journal.