Use this activity to view and enter the details of tax category 1 and tax category 2.This optional task is to be performed by a system administrator or euivalent person.
Tax categories are used to classify and group the tax transcations on different basis for any reporting purpose.
The tax categories can be attached to the tax codes and it is fetched to the invoice lines through tax lines of the customer/supplier invoices.The tax categories can also be changed in tax lines of the invoices.The tax category information are fetched to the taxd transcations of the tax ledger to be used for tax reporting.
Note: When using Czech Republic localization, tax category 1 can be used for reporting the " Czech Code of Supply" and tax category 2 can be used for reporting the "Fill Mode Code".
This activity requires that a company exists in IFS Financials.
As a result of this activity, the tax categories can be used to categorize tax transcations for reporting purposes.