The Global Update Tax Percentage program is used to change the Non-Deductible Percentage or Amount for funds once it has already been set in Configuration. When you select this option from the Contributions/Assessments sub-menu the following screen will appear.
Enter the date range of transactions to be affected by this change. For example, if the federal government said last year that you may deduct 10% of a certain fund and this year you may deduct 15% of the the same fund, the date range to be affected would only be the current year. However, if a mistake was made when entering the Non-Deductible Amount, leave the dates blank so that all transactions on file are changed.
Enter the Fund Number for which you will change the non-deductible percentage or non-deductible amount. The description will be filled in automatically for you.
Next enter the new non-deductible percentage or non-deductible amount. You may change up to 5 funds at one time. Click the <Okay> button when you are finished filling out the screen and the system will make the necessary changes to the fund information table, as well as check to make sure that all contributions on file within the date range are not deducting more than allowed. If they are, then the deductible amount is reduced to the maximum amount allowed.
Click the <Exit> button to return to the main menu.