Tax code for opening balances

[Former Member]

Hi All,

I am trying ot import opening balances for customers using oInvoices DTW template.

ALso setting up a suspense a/c for the same.

But while importing the system demands Tax code to be set.

If I leave it blank it gives an error. And if I set a dummy (0%) tax code it does not allow to import.

Can anybody suggest for the tax code stuff.

[former_member583013 · Accepted solution]

Ajit,

Let me first correct the Statement from Jimmy "Tax code must be 8 characters".

The maximum length permitted for a Tax Code is 8 Charecter. You can set your Tax code as '0' or 'EX' or 'EXEMPT'

I am not sure how different in SBO 2005 B is but I am saying this by reading the notes.

I believe you will have to first setup a Tax type using

Administration > Setup > Financial > Tax > Tax Type

then define a Tax Code determination using Administration > Setup > Financial > Tax > Tax Code Determination

and then finally define a Tax Code Administration > Setup > Financial > Tax > Tax Codes

This Tax code has to be used in the Document_Lines template

Suda

[former_member186095]

Hello,

Tax code must be 8 characters. You must use VATGroup / tax code but not tax code / tax code, because it is used for US localisation. The code is not 0% but alphanumeric for example IND1, BANGAL10.

The % of tax code is not defined in the template.

Rgds,

[Former Member]

Hi Jimmy,

Thanksfor your answer.

I have created a new tax code as EXEMPT and the rate for it is set to 0%.

The tax group for this EXEMPT is exempt.

Now I have used this EXEMPT in the oInvoices DTW template and hence gives an error.

Please suggest.

[former_member186095]

Hello Ajit,

What is the error message as in my side, I could not find any error in using exempt, or ind3 or not, maybe you did not define the effective from date or some settings is missed in the tax code settings.

Rgds,