By using the Mass Update Rates option in the system, you can apply Tax and Foreign Currency Rates on a universal basis to datasets. Administrators maintain Mass Update Rates in Administration > System. There are separate rates for each Country and State, as well as the FX rate for Currency. The columns added to track rates include Beginning Deferred Rate, Ending Deferred Rate, Current Tax Rate, Beginning FX (Spot) Rate, Weighted FX Rate, Ending FX (Spot), and State Tax Rate. There are also options to override the rates.

 

You can upload Mass Update Rates to a dataset from the Manage States, and the Manage Countries and Currencies options within Administration. The Mass Update Rates parameters must be activated. The Mass Update Rates option automatically transfers the rates for a dataset, once. After the initial transfer of rates, you can enter all rate changes to the dataset manually.

 

•You can use Mass Update Rates for the Provision and Estimated Payments datasets.

•Rates are maintained in My Datasets.

•All units created before setting up the Currency/Country/State parameters dataset parameters are automatically populated with the default values. The Rate default value is 0% for Tax and 1 for FX.

•Once the Currency/Country/State parameters are activated, the Override Rate options for the Federal and State levels appear in the Unit and State Details screens.

•When the States, Countries, and Currencies do not have data, the Override Rate functionality appears in Read-only mode.