In the Taxes module, master data is entered at the stage of deployment and is used as the key data in many types of transactions. For example, if you are calculating taxes, you need tax rates, and so forth. If needed, you can add new master records at any time. Generally, the master data if used in any transaction cannot be edited or deleted.
The master data of the Taxes module becomes available after the VAT Accounting functionality has been enabled on the Administration > Settings > General Settings form.
The following types of master records are maintained in the Taxes module:
- Tax Types
- VAT Rates
- Applicable Tax Codes