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Select “Create Tax Year” hyperlink from the left pane.
The “Create Tax Year“ page appears. The system displays the following.
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Tax Setup Unit |
The name of the tax setup unit for which the tax year must be defined. Tell me more |
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Date Format |
The date format applicable to the login user. Tell me more |
Enter the following fields.
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Tax Year Code |
A unique code to identify the tax year. |
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Tax Year Short Description |
A brief and unique description to identify a tax year. |
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Tax Year Long Description |
The full description of the tax year. |
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For example, if you have identified the tax code as “Tyr002”, you can enter “TxYr.” as the short description and “Tax year” as the long description | |
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From Date |
The date from the tax year begins |
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To Date |
The date on which the tax year ends. |
Note that the tax year must have a start date and an end date. The tax years must be continuous i.e. the start date of the tax year must be the next day of the previously ended tax year. For example, if current Tax Year is 01.04.2001 to 31.03.2002, the next Tax Year defined must be 01.04.2002 to 31.03.2003.
Select the “Save” pushbutton to save the details specified and refreshes the page with the saved details.
Note: if you have not specified “Tax Year Long Description”, the system will display the same value of the “Tax Year Short Description” as Tax year long description.
Select the “Inactive” check box to deactivate the tax year record.
The created tax year record will remain in the database but will not be available for use until it is activated again.
Uncheck the “Inactive” check box to activate the tax year record.
The created tax year record will be available for use.
6 Hyperlinked topics below
Use this page to create a new tax year.