Defining a Tran Code within Capital Software Property Tax Software.

What is a tran code?

A transaction code (rate code) is an item setup each year by the user to accurately calculate and track all of the charges to be applied within the system. The transaction code or tran code as referred to from this point on, is the cornerstone to all calculations performed by the system.

Tran codes are typically setup for Taxes, Penalty, Interest and any miscellaneous charge such as advertising or attorney fees. You can setup a tran code for any type of tax related charge.

A tran code contains descriptions, rates, general ledger numbers, discount days and rates, penalty days and rates, interest days and rates. Each of these items must be addressed during tran code setup to guarantee the desired outcome and performance.