Cost Data Entry Form - Taxes Page
The Taxes page of the Cost Data Entry form allows you to specify the taxes which are applicable to each direct and defined cost element in the current cost item.
If a cost allocation system has been set up and is in use for the current cost item, you can apply different taxes for each block or you can apply them independently of cost allocation.
A single Mandrel datafile can contain up to 15 separate tax definitions. However, any one cost item may reference no more than 8 different taxes. If a default tax group exists, the taxes in this group will automatically be selected for the current cost item.
If there is no default group or if you wish to change the tax selection:
1. Click on the Select Taxes button.
2. The Tax Selection form will appear. Click on a tax to select it, or to deselect it if it is already selected. Selected taxes will be shown on the Cost Data Entry form, unselected taxes will not.
Click on the box for each applicable tax for each cost element.
Entering Different Taxes For Each Allocation Block
If a cost allocation system has been set up and is in use for the current cost item, you can apply different taxes to different allocation blocks. For example, if your allocation system represents calendar years and you expect a particular tax rate to vary from one year to the next, you can set up taxes with different rates for each year.
To use different taxes for each allocation block, click on the box marked Apply separately to each allocation block. (This box will only appear if cost allocation is in use.) The cost element names shown on this page will separate into allocation blocks. Click on the appropriate tax boxes to select the applicable taxes for each cost element for each allocation block.
You can show taxes grouped by cost element or by allocation block (the illustration shows them grouped by allocation block). Switching between the two modes will not affect your data except in the way it is presented to you.
The Taxes page merely specifies which taxes are applicable to each cost element. The actual tax amounts are not stored, but are calculated as and when they are required. Consequently, if a tax rate or tax cumulation changes, you can make the change via the Tax Definition Form, and the changed definitions will then be automatically applied whenever they are required.