I charge for sales tax in my estimates?
There are several different ways to charge for sales
tax, when using Goldenseal estimating
software. The best
method depends on how you pay sales tax on the items
Sales Tax Collected from Customer
If you collect sales tax from your customers and then
pay it to a tax agency, follow these steps:
- Choose Income Setup from the Income menu, and choose Sales
- Click the New button, and enter information for the usual
sales tax rate that you collect and pay.
- Click OK.
- When you create an Estimate, fill that tax rate into the
Tax Rate field on the Estimate.
NOTE-- When you act as a tax collector, you should
not add sales tax as a line item in your estimates, nor include
it in your markup.
Sales Tax Paid to Vendors
If you pay sales tax on the materials that you buy,
follow these steps:
- Choose Estimates from the Income menu.
- Click the
template button to the right of the New button, and
choose a template to use as a source.
- Scroll to the bottom of the list of line
items, and click in the last row.
- Hit the Enter key or Return key to add a new row.
- Enter Pcnt of Mat'l into the Cost Area column.
- Enter Sales Tax into the Category column (optional).
- Enter a brief description of the tax into the Cost Item
- Enter your local sales tax rate into
the Quantity column. If you buy from a variety of
vendors that have different tax rates, then enter
- Goldenseal will automatically calculate the material total
from the estimate, and add a sales tax percentage
on that amount.
HINT-- Enter a Sales Tax line item into your estimating
templates. Then it will automatically include them in the
new estimates that you create from those templates.
Sales Tax In Markup
If you prefer to include sales tax as part of your
markup percentage, start by creating a Markup System that includes
the sales tax percentage. To do that, follow these steps:
- Choose Income Setup from the Income menu,
and choose Markup
Systems from the submenu.
- Click the New button to create a new Markup
- Type in a name for the Markup System (you
might want to call it "Materials with Sales Tax").
- Click on the Calculation popup field next
to Project, and choose Simple Markup.
- Enter your local sales tax rate into the
Amount field. If you buy from a variety of vendors
that have different tax rates, then enter an
- Repeat steps 4 and 5 for the Component
- Click OK.
Next, apply that Markup System to all of your material
Cost Items. To do that, follow these steps:
- Choose Cost
Items from the Costs menu.
- Choose Find from the Edit menu.
- Enter Material into the Cost Area popup field.
- Click the Find button. Goldenseal will find all your material
- Enter the new Markup System into the Markup System field.
- Choose Replace All from the Edit menu.
- Choose Markup System from the list of fields, then click
- Goldenseal will fill the new system into all your material
Click here to return to estimating
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