Tax Funds

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Tax > Levy Management > Tax Entity Maintenance > Tax Funds

Description

Aumentum tax funds, when associated with a tax authority, are the fundamental to setting tax rates. These funds are distinct from tax accounting funds. Tax funds set up is required before creating a tax authority fund association.

Steps

NOTE: All search criteria fields are optional.

  1. On the Maintain Tax Funds screen, enter your search criteria and click Search.

  2. Click New.

    3. NOTE: If you set the Locked Through Year application setting to a year up to and including the year you select from the Tax Year drop-down list on the Maintain Tax Funds screen, the New button is not displayed.

    1. Click Configuration > Application Settings.
    2. On the Maintain Application Settings screen, select Effective Date from the Setting type drop-down list, and select Tax Levy Management from the Filter by module drop-down list.
    3. Locate Locked Through Year. Enter numeric values in this format [YYYY] and click Edit.
    4. Enter a year and click Apply, then click Save.

Steps for Results and Fund Maintenance

  1. Click New to add a new fund line. Define the:

    • Fund No.

    • Description

    • Fund Type

    • Fund Category

    • Fund Subtype

    • Levy (value) Basis

    • Whether it is Securable (or unsecured if unchecked)

  2. Click UDFs on the newly created line or on any existing line to open the User Defined Fields pop-up. Define the:

    • District Code

    • District Parent Code, if applicable

    • Check any UDFs as applicable to add them to the search parameters for the new fund

    • Click OK

  3. Click Delete on any row to delete the fund, and click OK on the confirmation pop-up.

  4. Click Save to save any changes.

    • Click Cancel to cancel any changes at any time.

    • Click Close to end the task.

Prerequisites

Configuration Menu

  • Systype Maintenance

    Fund Category - any systypes you will need to use for reporting on funds

    Fund Subcategory - any systypes you will need to use for reporting on funds

    Fund Type and Levy Basis Type are system-defined systype categories and cannot be modified by the user.

Dependencies

You must set up tax funds before associating them with tax authorities.