Setting Up Transaction Business Category Codes

E-Business Tax provides six transaction business categories that you can use to identify and classify your business transactions. The six transaction business categories are:

• Expense report

• Purchase pre-payment transaction

• Purchase transaction

• Sales transaction

• Sales transaction adjustment

• Intercompany transaction

You can use transaction business categories directly to classify transactions, and use transaction business category codes as determining factors in tax rules. You can assign a transaction fiscal classification to multiple transaction business categories and use this fiscal classification in tax rules, thus applying the same rule to several business transaction events, such as for Purchasing and Payables transactions, or Payables and Receivables transactions.

To set up a transaction business category code:

1. Navigate to the Transaction Business Category Codes page.

2. Select your hierarchy view of the transaction business category code path.

3. Use the sub-level to navigate to the Create Transaction Business Category Code page.

4. Enter a transaction business category code and name.

   E-Business Tax appends this code to the code path for this transaction business category.

5. If necessary, enter the country that this transaction business category code applies to.

   You must ensure that the regime assignments of the transaction fiscal classification types that you associate with this transaction business category code are consistent with the country assignment.

6. Enter the effective date range.

   Enter a date range that is within the date range of the transaction business category or transaction business category code that this level belongs to.

7. Enter the transaction fiscal classification types and fiscal classification codes, and their effective date ranges, to associate with this transaction business category.