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 / type 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 sales; so for every type of sales 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 sales; so for every type of sales 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 their sales.
Important information
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.
| Column Name | Description |
|---|---|
| Name | This column displays the names of the Trade Groups created during implementation |
| Description | A detailed description column showing all necessary information about each of the Trade Groups |
| Extinct | A checkbox showing which of the trade groups are active or extinct |
Suppose Vendor A, Vendor B and Vendor C have been tagged to Trade Group “Local” and a tax rate of 10% defined in the Charge Master and has been tagged to Terms and Trade group “Local” has been tagged to the same Terms. So a tax of 10% will be automatically applied to the sales of Vendor A and all other members of Trade Group “Local” each time they make a sale.
Alert
Note: Trade Groups cannot be created or deleted by users. However, the Trade Groups may be modified by users having proper privileges.
Modification of Trade Group Name is not allowed, however, Description or Extinct fields may be modified.
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