Set Up Business Classes

Navigate:ClosedBusiness Revenue > Setup > Business Class > Set Up Business Class

ClosedNavigation Flowchart

Here is a flowchart of Business Classes Setup. Common Actions are included only if critical to completing the task. Obvious actions, such as Save, Previous and Close, are not  included in the flowchart .

Description

Set up the business classes for organization and reporting. This is the highest level of organization of the business. Some examples of business classes are retail, wholesale, service, or internet. Then within each class, businesses are identified with more detail by the business type.

The class codes are assigned values for basis, unit type, and rate that serve as the default values for a business type associated with the class.

SETUP: See Business Revenue and Business Setup for any applicable prerequisites, dependencies and setup information for this task.

Steps

  1. Click Add in the Class Parameters panel title bar to add a new class code, or click EDIT in a grid row to edit an existing class code.

  2. Enter a unique Description for the business class.

  3. Select the Basis for the class, such as gross receipts or units, and select the Unit type for the class, if the basis is unit.

  4. Select the Rate code for the class. The rate code is associated with the type; it is optional here. When used, it becomes the default rate code for the type when the class is selected. Repeat these steps for additional classes

    IMPORTANT: When editing an existing business class, do not change the rate code without understanding the effects of the action. Please check with your Support Representative.

    • Click Apply to finalize the class.

    • Click Cancel to discard any changes to the class..

    • Click Delete to remove a class from the grid. NOTE: You cannot delete a class that has business types assigned to it.

  2. Click Save to save the classes.

    • Click Close to end the task.

Tips

The following items need to be defined before setting up business types:

    • Rate codes

    • Basis types (systype)

    • Unit types (systype)

No entry is required in the basis, unit type, or rate code fields.

Valuable Vocabulary

Basis >ClosedThe type of numerical value applied to a rate or amount to calculate the tax. The two basic types are gross receipts and units.

Class >ClosedThe highest level of grouping for businesses within the Business Revenue module.

NAICS >ClosedThe North American Industry Classification System. NOTE: NAICS codes are business types. You can also manage the NAICS code in the Property Information panel of the Maintain PPA Accounts screen if your jurisdiction has the Personal Property Appraisal module.

IMPORTANT: The NAICS code is applied at the tax year level, not the account level, even though you can define it on the Maintain PPA Accounts screen.

Units >ClosedA non-dollar basis for assessing business license tax to a business, such as the number of rooms.

Related Topics

Maintain a Business

Set Up Business Type