The Taxable Code is used to indicate whether the line is taxable or not.
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The user may use the drop-down list to select the appropriate value. These values are configured and read in from Costpoint.
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The valid values are:
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S = Sales Tax: The vendor has included a tax amount on the invoice and that amount is included in the invoice total.
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U = Use Tax: The line expense is taxable, but the vendor is not authorized to collect that tax. This tax amount is accrued to a specified tax account in Costpoint and is not part of the invoice total calculation.
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N = Non-Taxable: No tax calculation is performed.
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If using the older generation flat file Costpoint PO Voucher preprocessor, these values are populated from the Purchase order line and cannot be edited and are limited to N or S. Use Tax is not a valid option for this preprocessor.
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In using the newer generation Costpoint Web Integration Console processors to pass PO vouchers, these values may be edited.
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For non-PO vouchers, the values may always be selected.
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This field is mandatory.