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Taxation
Taxation is a large part of a retail operation. Depending on your situation, it can also be a very complicated procedure of setting it up and utilizing the different types. With TransActPOS, taxation is easy to set up and simple to use. In this newsletter, you will learn about the various things TransActPOS can accomplish when it comes to taxation.
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Sales Tax Menu
The Sales Tax Menu is located in System | Support Files | Sales Tax Menu and includes all aspects of your sales tax system. Within this menu, there are four sub-areas that must be established:
- Customer Type: These are the tax types for your customers in the Accounts Receivable Customer File. Within each, you must assign a Location (see number 2) and decide if the customer type is state and/or local exempt.
- Location: These tax types don't do much on their own, but allow diversity within other tax menus. For the most part, these will be state locations.
- Taxable Item Types: These are the tax types for items within your Inventory. Again, these don't do much on their own, but allow for diversity in setting up tax tables.
- Non-tax Types: These are the non-tax types for things such as Labor, Coupons, Shipping, etc. These are also for items within your Inventory and don't do much on their own.
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Tax Tables
Tax Tables (first selection in the Sales Tax Menu) is where the previous four items combine to create taxes for your retail system. To create a new one, click the New button. This will take you to a blank Properties tab. First, enter an ID for this specific Table and a Description for the tax table you are setting up. Then you must select a Location and Item tax type to designate to this table. Finally, the main part of setting up a tax table is assigning the Tax Rate. Click Add to create a Tax Rate. On the Tax Rate Detail screen, select the type of tax (state or local), a minimum and maximum dollar amount, and the tax rate %. Once the rate is established, click OK to add it to the list for the tax table. You can set multiple tax rates if you wish. Once you are happy with the tax table, click OK to save it.
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Reporting
A Sales Tax Report can be run from PO/AR/IC | Reports (all of them are the same). From here, you can report on all tax tables or select a specific one to report on. You can also choose between a Summary or Detail report (Both is the default value). The Summary report offers line items with dollar totals. These line items can include Total Sales including Collected Sales Tax, Total Sales Tax Collected, Non-Taxed Items, and more. The Detail report offers a deeper look into the Non-Tax sales. It shows the invoice number, customer, item sold, and tax ID (if applicable).
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Modify Tax
Within the Point of Sale, there is a Modify Tax button. This allows you to change the tax type on an item on the fly. This will not change the item's tax type permanently. If you want to do that, you must locate the file within the Inventory File and change it there. However, if you are looking for a quick fix, you can use the Modify Tax button. Once an item is highlighted and the Modify Tax button is selected, you can select a tax type to assign to either the highlighted item (This Item) or the entire invoice (All Items). Once the desired option is selected, the invoice will show again and the tax type within the TX column will be changed to whatever you selected. For more information on Taxation, click the WebHelp link along the side of this newsletter and search for "Tax."
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If you have any suggestions for future newsletters and/or feedback, please feel free to email me. Your feedback is what helps us grow and assist you as your Point of Sale software provider!Your TransActPOS Team |
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Copyright © 2013 Profile Systems Design Group, Inc. All Rights Reserved.
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