Function Select

RF132S01 - Function Select

The Location Defaults category contains default information for financial processing at this company/ location. Some of the fields determine the calculations that will be performed on financial data. Others determine what information will appear on screens and reports. For details about how defaults related to value added tax (VAT) processing are used, refer to the Common Features User Manual, Key Concepts section.

COMPANY

Required.  The company must exist on Reference File category 002 (Entity Name).

LOCATION

Required.  The company/location for which the default information is defined must exist on Reference File category 002 (Entity Name).

Detail

RF132S02 - Detail

CURRENCY REQUIRED FLAG

Required.  Indicates whether the user must enter a currency code on General Ledger financial transaction screens (Y) or whether the user may leave the currency blank (N).  If N is entered, the currency will default to the company/location base currency (defined on Reference File category 002, Entity Name) when the user does not enter a currency code.  Note that this flag applies only to General Ledger transactions; Accounts Payable and Accounts Receivable always require a currency code.

CURRENCY OPERAND

Required.  Indicates the arithmetic function performed with the exchange rate and foreign currency to translate amounts to the base currency.  Valid values are:

* - Multiply the foreign currency by the exchange rate to translate to the base currency.

/ - Divide the foreign currency by the exchange rate to translate to the base currency.

EXCHANGE OVERRIDE VARIANCE LIMIT

Required.  Indicates the maximum allowable difference between the Currency Rate Master File exchange rate and a user-entered override exchange rate.  On financial transaction screens, the system will not accept any override that differs by more than the percent entered here.  The field allows tenths of a percent to be entered.  For example, a limit of 99.9 percent is entered as 999.  A limit of 75.0 percent is entered as 750.

JOURNAL NUMBERING METHOD

Required.  Indicates the method to be used for journal numbering.  Valid values are:

A - Automatic.  The system will generate journal numbers.

M - Manual.  The user will enter journal numbers.

B - Both.  The system will generate journal numbers not specified by the user.

BOOK CODE REQUIRED FLAG

Required.  Indicates whether the user must enter a book code for financial transactions of this company/location.  Valid values are Y (yes) and N (no).  If N is entered, the book code defaults to the default book code, depending on the conversation (AP for Accounts Payable, AR for Accounts Receivable, GL for General Ledger).  If a Y is entered, then the user is required to enter a book code for the conversation.

TAX FLAG

Required.  This flag indicates whether the system calculates and accounts for value added tax (VAT), Goods and Services Tax (GST), or U.S. tax.  You must set the flag to 'Y' (yes) for VAT, 'B' (both) for GST, or 'N' (no) for U.S. tax.  The system displays appropriate fields on financial screens depending on this flag's value.

VAT CALCULATION METHOD (GROSS/NET/RECALCULATION)

Optional (If non-VAT environment).  This code indicates the method used to calculate VAT.  This code may be overridden during invoice entry.  Valid values are:

N - Calculate VAT based on the net (of cash discount) invoice amount.

G - Calculate VAT based on the gross invoice amount and do not recalculate when payment is made.

R - Calculate VAT based on the gross invoice amount and recalculate when payment is made, based on the amount of the payment and the actual discount taken.

NOTE:  Only gross calculation method is valid for GST.