3.8 Sales Taxes
The Sales Taxes screen
allows you to configure the sales taxes that are required in your area. Once
configured, the system will be able to automatically apply the appropriate taxes
for you customers. Multiple taxes can be configured in this section. When you
have entered in the information for one then click the New Sales Tax icon . A new window
like the one you see below will open for each sales tax allowing you to track
sales taxes by locality.
Name: Enter the Name of
the tax as you wish it to appear on invoices.
Tax #: Enter your
company's tax number.
Percentage: The percent
value of the tax, entered as a decimal value (0.07 = 7%).
State Specific: Check this
box if the tax only applies to customers in a specific
Country Specific: Check
this box if the tax applies to all customers in the same country as the
Applicable States: If the
tax is State Specific, and the state involved is not the same state as the one
that the Division is in.
Do Not Charge: This allows
you to override another tax that would normally be changed if this tax was not.
This is useful for harmonized taxes.
Deductible G/L Account:
Select the liability account that you wish to have the tax portion of money
deposited into when a payment is made.
Always Expense: Check this
box if this tax is redeemable as a business expense.
Expense Account: Select
the expense account to credit when a payment is made.
Tax Shipping: Use this
option if you are required to charge tax on shipping costs for
Rounding Rules: Some
shippers perform rounding past 2 or 4 places to the right of the decimal point.
To maintain a balancing ledger choose the rounding rule that will apply with the
integrated shipping service that you are using.