Reference Data Like Tax Rates

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1

Hi,

I am trying to figure out what the best way to store tax rates is. Each of my products would be assigned a tax class such as:

  • Standard rate
  • Reduced rate
  • Zero rate

Each of these tax classes has a value:

  • Standard rate - 20%
  • Reduced rate - 5%
  • Zero rate - 0%

I don’t want to store the actual rates at product level as that does not make sense if things change in future. My dilemma is:

  1. Do I create global constants?
  2. Do I create another sheet that stores tax rates and use link and load?

Appreciate your help.

Thanks

Shaheed

2

Hi,

If you only have three types of tax rates, you may use global constants. However, if you have lots of combination of tax rates and product type, it would be better to manage by creating a new sheet and applying link and load.

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