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SpendMap User Guide (v15)

PURCHASING > Master Files > Tax and Exchange Rates > Add/Modify/Delete

 
This master file contains both Exchange Rate Codes (i.e. currencies) and Tax Rate Codes, used to calculate values automatically on Purchase Orders and other transactions.

 
Exchange Rate (Currency) Codes

If you do business with suppliers in currencies other than your own (landed) currency, Exchange Rate Codes can be used to convert purchases made in foreign currencies to your local/landed currency for item valuation and internal reporting purposes. That is, you can place orders in your supplier’s (foreign) currency but dollar amounts in SpendMap will show in your landed currency, so that you can compare apples-to-apples when looking at dollar values on screens and reports throughout the system.

 
Tax Rate Codes

Tax Codes are used to calculate the value of sales taxes on Purchase Orders and other documents, to avoid having to calculate the taxes manually for each document.

You can indicate the tax rate (percentage) for each code and then select the applicable tax code(s) when entering line items on POs and other documents.

 

Tax and Exchange Rate Screen