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Use Vendor Sales Taxes to describe the sales tax rates that you pay on
purchases of materials, subcontracted labor, and other items.
VENDOR SALES TAX BASICS
Entering Vendor Sales Taxes | Data Fields | Using Lists | Using
Vendor Sales Taxes
RELATED TOPICS
Job Sales Tax | Material Purchases | Other Costs | Subcontractor
Costs
Vendor Withholding
Entering Vendor Sales Taxes
To enter a Vendor Sales Tax, follow these steps:
- Choose Costs Setup from the Costs menu, then choose Vendor Sales Tax from the submenu.
- Click the New button, or click on an existing item and click the Edit button.
- Enter details for the tax rate.
Data Fields
Enter the following information for each Vendor Sales Tax:
Name-- Type in a brief name for this tax rate. This is the text
that will appear in clairvoyant fields.
Comments-- Type in any comments you'd like to make about this
item.
Percent Rate-- Enter the percentage rate for this tax.
Plus Fixed Amount-- If the tax includes a fixed dollar amount,
either by itself or in addition to the percentage tax, enter it here.
Rounding-- Enter the rounding method for the tax.
Using Vendor Sales Taxes
To use a Vendor Sales Tax, open each Material Supplier, Subcontractor or Other
Cost Account and enter the usual tax
rate that the vendor charges.
Goldenseal applies the vendor sales tax rate when you enter Material Purchases, Subcontractor Costs or Other
Costs. The vendor's usual rate is entered automatically, but you can change it if that transaction has a different rate.
To include sales tax when you do time and materials billing, turn on the Include Sales Tax checkbox in Project
Payment Terms.
To charge sales tax on individual items in a Material Purchase with an item breakdown, turn on the Taxable Purchases checkbox
in each Cost Item record.
HINT-- To enter the sales tax rates that you collect on Sales, use Job Sales
Taxes.
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