Currency Type
Maintain Currency Conversion Rate Types. The Currency Conversion Rate Type lets you define different types of rates, e.g. Spot, Corporate and/or Sell/Buy rates.
Currency Rate
The System has a number of major currencies defined in the system. Gains and Losses on a currency occur when there is a rate fluctuation between the Journal recording date (assumed date) and actual transaction date (actual rate). By default, all currency gains and losses are booked to the Gain and Loss accounts defined at the Accounting Schema level.
Tax Category
The Tax Category defines classifications of Taxes. A Tax Category is assigned to Products and Charges so the appropriate Tax Rate can be derived. This facilitates reacting to changing tax rates.
Tax Rate
The Tax Rate Window allows you to define and maintain different taxes used for each tax category. These Tax Rates are derived for Products and Charges based on the Tax Category.
