TX07.1 – Tax Usage Codes

About TX07.1

Use Tax Usage Codes (TX07.1) to add tax usage codes for processing VAT returns. Tax usage codes are used to keep statistics on the invoice amounts of goods and services purchased for specific uses. Such statistics are required on some VAT returns.

More information: After a usage code is added, you can assign it to a tax code at a vendor or vendor location level (Company button in AP10.1, Defaults tab, or Company button in AP10.2). Whenever an invoice is released that contains a taxdistribution, the tax usage code is sent to the tax transaction record. TX120 (Value Added Tax Returns Report) will pull the information for this tax transaction to a specific line on the VAT return if the tax usage code specification entered for that line in TX06.2 (Codes for Report Line), along with the rest of the criteria entered for this line in TX06.1 (Tax Report Maintenance for Value Added Tax), matches that used in the tax transaction.

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