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3.8 Sales Taxes


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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 state/province.

Country Specific: Check this box if the tax applies to all customers in the same country as the Division.

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 orders.

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.

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