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Sales Tax Tables Maintenance -
Overview
General Information
The M.O.M.
Tax Maintenance System enables you to establish and report sales
tax rates and establish sales tax classes for certain products at
four different levels.
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National
Sales Tax
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State
(Provincial) Sales Tax
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County
Sales Tax
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Local
(Municipal/ZIP Code) Sales Tax
Tax rates
can be established at any/all four levels insuring complete
compliance with whatever tax laws apply in your business
location(s). When setting up tax rates, it is best to start with
the National Sales Tax maintenance screen to setup the information
for your country of business operation before going on to states
(provinces), counties, or municipalities.
Additional Options
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At the
National and State levels you can exempt or include products in
sales tax calculations using five different product tax classes
(A-E). Product tax class is assigned by stock item in the Stock Maintenance function
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At the
National and State levels you can exempt or include Customer
Shipping Charges in sales tax calculations.
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Using the
State Sales Tax Maintenance tab, you can setup finance charges at
the state level for use in creating statements on overdue
accounts.
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Sales Tax can be reported daily,
weekly, monthly, quarterly, or yearly using the Sales Tax
Collection Report available from the Accounts Receivable submenu on
the Reports menu on the main menu.
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