Tax Code | Tax code name (ie. Indiana Sales Tax) |
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Description | A more detailed description of the tax (optional) |
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Tax Class | User can select from different tax classes created in Tax Classes screen. Required field. |
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Tax Agency | This is who the tax check will be written to when payment is issued. This tax will be tracked to the tax agency. |
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Address | User enters address of tax agency. |
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Zip/Postal Code | Zip/Postal Code of the tax. Required field. |
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State | User can define the state associated with the tax. Needed to create templates from tax schedule. Required field. |
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Country | User can define the country associated with the tax. Needed to create templates from tax schedule. Required field. |
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City | User can define the city associated with the tax. Needed to create templates from tax schedule. Required field. |
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County | User can define the county associated with the tax. |
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Match Tax Address | Default to being checked. If unchecked, the system will not search for a match based on the address and will just tax if it is in the tax group list. |
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Sales Tax Account | Select from accounts under Sales Tax Account category and Purchase Tax Account category. Required field. |
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Purchase Tax Account | Select from accounts under Sales Tax Account category and Purchase Tax Account category. Required field. |
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Tax Adjustment Account | User can select the GL account for Tax Adjustment Account |
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Add to Cost | If the check box is checked, the tax amount will be added to Cost or COGS. |
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Tax Exemption Account for Sales | User can select the GL account for Tax Exemption of Sales Tax |
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Tax Exemption Account for Purchase | User can select the GL account for Tax Exemption of Purchase Tax |
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Taxable by Other Taxes | A list of other existing tax codes |
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Tax Only / Balance | - If tax only is checked, tax only the amount of the tax by the calculation.
- If balance is checked, tax the base amount plus the tax.
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Expense Account Override | Enable the customer to expense the tax on an item to the expense account. |
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Include in invoice price | If the check box is checked, tax will be included in the Invoice Price |
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Motor Fuel Tax Category | Displays values that matches the Tax Code's State/Province field |
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Store Tax No. | The tax code will be associated to the Store Tax No. entered used on Registers tracking |
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Checkoff Tax | If the check box is checked, the calculated amount will be offset into the invoice amount for that line item |
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Pay To Vendor | Selection of vendor entities |
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Texas Loading Fee | "Texas Loading Fee" or "Texas Petroleum Products Delivery Fee". In reality, this is a Tax levied by the State, but not a Fee/Surcharge initiated by a Vendor or iRely Customer. |
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Effective Date | Date when tax rate will be effective |
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Calculation Method | Either % of total or an amount per dollar |
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Rate | Enter either the percentage or the amount per dollar |
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