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- Decide whether new general ledger codes need to be set up.
- Set up the new tax control accounts (in the "4" series).
- Before you can use Synergetic for financial processes you will also need to add accounts for GST on income clearing, GST on expenses clearing, GST payments control account and supplier taxes withheld control account.
These accounts must also be identified on the General tab of Finance Configuration. We recommend that you place these in the "4" series and put them all together. - Ensure that your tax codes are set up correctly in the Finance lookup table luTax. The Inclusive Multiplier is the factor by which the tax inclusive amount must be multiplied by to obtain the tax exclusive amount. In:
• Australia a multiplier of 0.09090909 gives a tax rate of 10%
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- • New Zealand a multiplier of 0.86956522 gives a tax rate of 15%.
- Set a SynergyMeaning of ASSET for any Tax Code that should appear in the G10 section of the BAS.