Type of Sales may differ with respect to the charges levied on each type of sale. The Trade Group is a grouping created for similar kind kinds/ type types of Sales to allow for easy application of various charges. For example, a major charge that affects sales is Tax payment and taxes are different for each distinct type of salessale; so for every type of sales sale, a separate Trade Group is created. These Trade Groups are required while defining a Sale Term. By default Local, Inter State, Export/Import, - Trade Groups are automatically created while implementation.
For example, a major charge that affects sales is Tax payment and taxes are different for each distinct type of salessale; so for every type of sales sale, a separate Trade Group based on tax is created. So all vendors tagged to these trade groups will automatically have the relevant taxes applied on to their sales.
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Note: Tax and other charges are defined in the Charge Master and then tagged to Terms which forms the connection between Trade Groups and Charge Master. |
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