Circulation Tax WizardCirculation Tax WizardCirculation Tax policies are used to control how tax amounts are calculated against transactions that are associated with a certain Bill Reason or Item Type.
After creating a Circulation Tax policy, you can specify which Circulation Tax policy is used with each Bill Reason or Item Type using the Bill Reason Wizard and the Item Type Wizard respectively. The NOTAX policy is delivered with SirsiDynix Symphony by default, and can be used for bill transactions that are not taxed.
From the List Policies window, you can create, display, modify, copy, or remove the Circulation Tax policies. Click Close to exit the wizard.
Attributes
The Circulation Tax wizard displays the following attributes.
| • | Name |
| • | Description |
| • | Tax Rate |
| • | Tax Base Currency |
| • | Price includes tax |
This attribute uniquely identifies a specific Circulation Tax policy. This name is ten characters or less, and may not include spaces or punctuation, except for dash (-), underscore (_), and dollar sign ($). Additionally, the pipe character (|) may not be used.
This attribute provides more information about the policy and its use by the library. The description may be up to 60 characters in length. Although the Description attribute may contain spaces and punctuation, the pipe character (|) cannot be used.
This attribute is used for calculating the tax on bill amounts. Some libraries are required to collect taxes on bill amounts and pay the taxes collected to a government agency. The tax rate is a percentage value, and can be expressed to the hundredths of a percentage point. For example, to enter a tax rate of 8%, enter 800 in the Tax Rate field. To enter an 8.75% tax rate, enter 875.
The Tax Base Currency attribute defines the smallest monetary unit available in the local currency. This attribute is used to prevent a tax value from being calculated smaller than the specified unit. For example, the tax base in the United States is 1 since the smallest monetary unit is one cent. In Australia, the tax base is 5 since the smallest monetary unit is five cents.
Note: All computed taxes are rounded up to the next highest increment. For example, if the tax rate is 10% and the tax base is 5, a bill of $12.25 would be taxed at $1.25 because the calculated $1.225 value is rounded up to the next 5-cent mark.
This attribute specifies whether the item price will include the tax amount.
Related topics
Circulation Configuration Wizards
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