Utilizing QAD’s Global Tax Management Tool

Posted on: July 19, 2021 | By: Chloe Cope | QAD Financials, QAD Business Process

QAD’s Global Tax Management (GTM) tool makes it simpler for companies of any size or complexity to accurately calculate taxes. Users can designate taxes assigned to suppliers, customers, and items; tax zones based on ship-to and ship-from locations; choose when to calculate taxes; and many more accommodating variables. With the capability to accommodate any number of tax rates or legal reporting requirements for multiple countries within a singular database, GTM allows businesses to create an efficient and organized system for keeping track of taxes.

In this blog, we will walk through the functionality of GTM step-by-step.

Step 1: Create Tax Zones in Tax Zone Maintenance (both ship-from to ship-to zones)

a. Enter city, country, state, and postal code

Step 2: Assign tax zones to the supplier and customer addresses in Supplier Modify > Tax Info and Customer Modify > Tax Info, respectively

Step 3: Create the Tax Types in Tax Environment Maintenance

a. Key in State, Country, City, and other Jurisdiction Rates to make up the total rate

Step 4: Combine the Tax Zone and Tax Type via a Tax Environment in Tax Environment Maintenance

Step 5: Create the Tax Rates for the Tax Type codes in Tax Rate Maintenance

Step 6: Select the Tax Environment you wish to apply to a Sales Order in Sales Order Maintenance

Next Steps

If you are interested in learning more about GMT and/or maximizing the use of QAD for tax management, contact us here to find out how we can help you grow your business. You can also email us at info@loganconsulting.com or call (312) 345-8810.

 

 



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