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Multiple tax rate handling

Kofax ReadSoft Entrance can capture multiple tax rates and tax amounts from a tax table using advanced business logic. This allows Kofax ReadSoft Entrance to check and validate the tax rates to ensure that the information is correct.

To validate multiple tax rates

If you are using the French country profile, create a new invoice profile, and select GE Tax Table or PO Tax Table as the document profile type. A VATTable field profile suitable for French documents is included automatically.

If you are using a different country profile, use this procedure:

  1. Double-click the document profile to open it and display its components.
  2. Right-click the Field profiles folder under the document profile you are working and select Add table field. The Table field profile dialog is displayed.
  3. Type a name for the table in the Name box.
  4. In the Table field profile dialog, select VATTable.
  5. Click OK to save the table field profile.
  6. Add five fields to the tax table profile. To add each one:
    1. Right-click the new table field and select Add table column. The Line item field profile dialog is displayed.
    2. Specify a suitable field name and the following:
      • First field: Select VAT_Code as the field type. (This is for a unique code for a tax rate.) Specify Regular as the format type. Use with "(X)" as the format specification.
      • Second field: Specify a suitable field name, and select VAT_BaseAmount as the field type. (This is for the amount that is taxable according to this tax code.) Specify Amount as the format type.
      • Third field: Specify a suitable field name, and select VAT_RatePercent as the field type. (This is for the tax rate.) Specify Amount as the format type.
      • Fourth field: Specify a suitable field name, and select VAT_RateAmount as the field type. (This is for the tax amount. Should equal VAT_BaseAmount x VAT_RatePercent.) Specify Amount as the format type.
      • Fifth field: Specify a suitable field name, and select VAT_TotalAmount as the field type. (This is for the amount to be taxed plus the tax – that is, VAT_BaseAmount + VAT_RateAmount) Specify Amount as the format type.
    3. Click OK.
  7. Save the document profile.