Overview Tax Funds

Navigate:ClosedTax > Levy Management > Setup > Tax Funds

OR

Tax > Levy Management > Tax Entity Maintenance > Tax Funds

ClosedNavigation Flowchart - Roll-Based Assessment

Here is a flowchart of Tax Levy Management > Setup > Tax Funds. Obvious actions, such as Save and Close, are not included in the flow. Common Actions are included only if applicable to completing the task.

ClosedNavigation Flowchart - Event-Based Assessment

Here is a flowchart of Tax Levy Management > Setup > Tax Funds. Obvious actions, such as Save and Close, are not included in the flow. Common Actions are included only if applicable to completing the task.

Description

Aumentum tax funds, when associated with a tax authority, are the fundamental mechanism for 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

  1. Search for Tax Funds to edit or create a new tax fund.

  2. Enter or edit the tax fund information on Set Up Tax Fund Details.

Definitions Valuable Vocabulary

Tax Authority >ClosedA jurisdiction which has statutory authority to levy taxes. Also called taxing unit. Each tax authority can have one or many funds attached to it, which determine the tax rate for the tax authority.

Related Topics

Tax Authorities

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.