Chapter 6. Purchasing 99 IBM Maximo Asset Management enables you to define the category of line items to which you can add taxes: No items option means taxes are not added, and are not reflected in the cost fields of the Inventory or Work Orders applications. All items option means taxes are added to all line items on the invoice. Adding taxes to the item price increases a stocked ( inventory) item's average cost. 6.2.4 Company records versus company master records Company master records define the records that belong to a Company Set. Company Sets exist below the System level, but above the Organization level so that organizations can share data. Each organization is associated with a Company Set. If your company has implemented a Multisite configuration that includes multiple organizations, using Company Sets allows your organizations to share master company data on the records created in the Company Masters application, and record organization specific data, for example contacts and branches, on the records in the Companies application. When creating a complex Multisite implementation, create company records in the following order: 1. Create one or more Company Sets in the administrative Sets application. 2. Create company master records in the Company Master application. 3. Add company master records to one or more organizations. 4. Use the Companies application to add organization specific data to the company records. 5. If appropriate, create company branch records and associate them with a parent company record to create a hierarchy. 6. If your company’s Multisite implementation consists of a single organization, your system administrator can configure your Company Set so that records created in the Companies application are automatically added to the Company Masters application. 6.2.5 Company records and contracts Before you can create contract records, you must first create company records for each vendor or company that will be listed on a contract. To view a read- only list of contracts associated with a company record, choose Select Action . View Contracts of the Companies application.