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Adding a new distribution schema (Tax Management use case)

Version: V4.2
Added on: 06/25/15
Difficulty:

Time: 30 min
Category: Tutorials

Prerequisite Tutorials

Name	Added On	Difficulty	Time Required	Description
How to add a new distribution schema	04/02/15		15 mins	This tutorial will help you to learn how to add distribution schema.
How to create a new holding account	06/18/15		15 mins	This easy tutorial will teach you how to create a holding account on Distribution perspective.

Useful Terms

Adding a new distribution schema (Tax Management use case)

Are you ready?

In this tutorial we are going to learn how to add a new distribution schema for tax management. This schema is used in case when, for example, fitness center needs to store charged taxes on a separate bank account. In addition, certain reserve amount has to be sent to another bank account.

We will use the following parameters:

Name: Tax Management

Account type: Any
Rate: 100
Source: Total Fee
Destination: Convenience Fee Balance

Account type: Any
Rate: 100
Source: Total Tax
Destination: Holding account => Local Tax A

Account type: Any
Rate: 10
Source: Remaining Net
Destination: Holding account => Reserve A
Log in to the system using your Username and Password and switch to the Management => Portfolio Perspective.

Note: To learn how to log in and select perspectives, use the prerequisite tutorial Logging in and navigating the application.
Click Distributionsbutton in the top section of the screen.
Click Addbutton
Locate Detail groupbox
Enter Tax Management into the Nametextbox
Locate Active checkbox and check it off.
Locate Rules groupbox
Select Any in Account Typecolumn
Enter 100 into the Ratecolumn
Select Total Fee in Sourcecolumn
Select Convenience Fee Balance in Destinationcolumn
Now, let's create the second rule.
Click Rulebutton
Select Any in Account Typecolumn
Enter 100 into the Ratecolumn
Select Total Tax in Sourcecolumn
Select Holding Account in Destinationcolumn
Select Local Tax A in the dropdown next to the Holding Account.
Now, let's create the third rule.
Click Rulebutton
Select Any in Account Typecolumn
Enter 10 into the Ratecolumn
Select Remaining Net in Sourcecolumn
Select Holding Account in Destinationcolumn
Select Reserve A in opened dropdown to the right.
After you are done, your screen will look similar to the screenshot.
Click Savebutton
Congratulations, you are done!

Now you know how to add new distribution schema for tax management. Now, let's learn how to attach a distribution schema to a merchant.

Adding a new distribution schema (Tax Management use case)

Prerequisite Tutorials

Useful Terms

Adding a new distribution schema (Tax Management use case)

Related Tutorials

Tags

Name	Added On	Difficulty	Time Required	Description
How to attach a distribution schema to a merchant	04/02/15		15 mins	In this tutorial you will learn how to attach a distribution schema to a merchant.
Adding a new distribution schema (Convenience Fee Handling use case)	06/24/15		30 mins	This tutorial will help you to learn how to add distribution schema for convenience fee handling.