Adrian, For a short explanation on nexus, in the tax context, have a look here: http://en.wikipedia.org/wiki/State_income_tax#Nexus
In general, the nexus is the party responsible for the taxes due by its subsidiaries. Best regards, Pierre Smits *ORRTIZ.COM <http://www.orrtiz.com>* Services & Solutions for Cloud- Based Manufacturing, Professional Services and Retail & Trade http://www.orrtiz.com On Wed, Oct 8, 2014 at 10:55 AM, Adrian Stern <[email protected]> wrote: > Small Update: > > The 5-Step Accounting Guide does not help with tax matters. I've ordered > the book and it should arrive sometimes next week. > > I've found out what "nexus" means for a company and changed the setting to > Y. Which did not help. Also i changed the Tax-Type from VAT to Sales Tax in > order to verify if it works with this seemingly more common setting. It did > not. > What i did to check if the settings apply and the taxes get calculated is > to create an invoice with the product from my catalog, created a payment > with the necessary amount and paid it. To check the glAccouns i used the > Trial Balance. > > For my understanding: Is Nexus basically defines if a party has to actually > pay taxes because some treshold is reached. > > *Is my understanding of "nexus" correct?* > *Does the Trial Balance and my general procedure to test taxes suffice?* > > > On 6 October 2014 14:29, Adrian Stern <[email protected]> wrote: > > > @Pierre Smits > > Thanks for your Reply. Both of this i did. The percentage is used was 10 > > instead of 0.1. But if it had worked, the numbers would've just been > bigger. > > Also i did create the Link to "Company". > > > > @joelfradkin > > Since you're talking about a whole book, which i cannot purchase in time, > > is this by chance what you are talking about? > > > > https://de.scribd.com/doc/138056993/Accounting-5-Step-Guide > > > > When i've found the time to read en re-check, i will reply once more. So > > thanks for the time being. > > > > On 3 October 2014 19:22, [email protected] <[email protected]> > > wrote: > > > >> Getting started with apache OFBiz accounting by Sharon Foga has a > example > >> of > >> adding a new tax authority. > >> Not sure this is what you are looking for as it does not mention in the > >> steps VAT. > >> Her steps are create tax authority party, tax authority setup rates, > >> region),link the tax authority to the company, process a customer order > to > >> veify that the rate from new authority is applied. > >> Hope that helps. > >> > >> > >> > >> ----- > >> Joel Fradkin > >> -- > >> View this message in context: > >> > http://ofbiz.135035.n4.nabble.com/Setup-VAT-Taxes-tp4656487p4656494.html > >> Sent from the OFBiz - User mailing list archive at Nabble.com. > >> > > > > >
