1. Lease Servicing User Guide
  2. Appendix : Lease Sales and Usage Tax
  3. Internal Lease Tax Calculation
  4. Sales Tax Setup
  5. Customer Service

D.2.1.3 Customer Service

The Customer Service tab of Sales Tax screen facilitates to capture details for Stream tax calculation when Bill/Due date or Late Charge transactions are posted, and also to estimate tax for Payoff Quote lease on unpaid lease amount.
  1. Navigate to Setup > Administration > System > Sales Tax > Customer Service tab.
  2. In the Formula Details section, click Add. You can also perform any of the Basic Operations mentioned in Navigation chapter. A brief description of the fields are given below:

    Table D-6 Formula Details

    Field Description
    Calculation Method
    Select the lease tax calculation method as one of the following from the drop-down list. The list is populated based on SALES_TAX_INT_AMT_CD lookup code for Internal calculation method and SALES_TAX_EXT_AMT_CD lookup code for Vertex.
    • Flat Transaction Amount - fixed tax amount charged for configured transactions.
    • Percentage of Transaction Amount - fixed tax percentage charged for configured transactions.

    ** Refer to the illustrated example for information on calculation methods.
    Txn Code
    Select the transaction code from the drop-down list. The list is populated with the following values based on SALES_TAX_TXNS_CD lookup code.
    • Bill/Due date
    • Late Charge
    • Payoff Quote lease

    Refer to example Illustration - Stream Tax Calculation below for information on how tax is calculated based on combination of calculation method and transaction code.

    Sign

    Select +ve option (default) if the calculated sales tax amount is to be added to the lease account or -ve option if a tax rebate is given on the lease account.

    Note: This field is displayed only for Internal sales tax calculation method.

    Value

    Based on the calculation method selected, specify either amount or percentage of tax to be calculated.

    Note: This field is displayed only for Internal sales tax calculation method.

    Tax Exemption

    Check this box to indicate if the tax formula can be exempted from sales tax calculation for lease accounts having valid exemption details. Else, sales tax is assessed for lease account using this tax formula.

    Note: This check box is displayed only for Internal sales tax calculation method.

    Enabled Check this box to enable the tax formula.
  3. Perform any of the Basic Actions mentioned in Navigation chapter.

Illustration - Stream Tax Calculation

The table below is an illustration on how stream tax is calculated with the combination of calculation method and transaction code selected.

Table D-7 Stream tax calculation

Txn Code Calc Method Tax % Tax Amt Txn Amt Total Txn Amt
BILL/DUE DATE Percentage of Transaction Amt 5% - $558.17 $586.08
BILL/DUE DATE Flat Transaction Amt - $100 $558.17 $658.17
LATE CHARGE Percentage of Transaction Amt 5% - $20 $21
LATE CHARGE Flat Transaction Amt - $5 $20 $25

Parent topic: Sales Tax Setup