Company Information System

Sales Taxes
           
The Taxes Tab Fields are used to keep track of critical income and sales tax information.  
Sales Taxes - The Sales Taxes tab is used to provide maximum flexibility to user in configuring State, Federal or Provincial Sales Taxes.  This module is designed to provide maximum flexibility to users in setting Sales and Purchase tax rates, headings, labels, and exemptions.    
State Tax/PST Label - The State Tax/PST Label box is used to allow users to customize the tax label that will appear on Modules and Report for State or Province Sales.  The common entries for the U.S. is State Tax.  The Common Entry for Canada is PST Tax.  The default label is printed on all Purchase, Quote and Invoices Orders. 
Tax Reporting or Exempt ID - This box is used to record your State/Province Sales Tax Reporting ID.  The Sales Tax Reporting ID will be printed on sales tax reports for reporting purposes.  
Tax Sales? - The Tax Sales check box is used to indicate if sales to customers will be taxed or if all sales to customers will be Tax Exempt.  If the box is checked, then sales to customers will be taxed by default. This option can be overridden on a customer by customer basis when checked.  If the box is NOT checked, then sales to customers will NOT be taxed (Tax Exempt). 
Sales Tax Rate - The Sales Tax Rate box is used to set the default company wide Sales Tax Rate for Customers.  This value must be entered in the format of 0.07 for 7% tax or 0.10 for 10% tax or 0.065 for 6.5% Sales Tax. 
Tax Purchases - The Tax Purchase check box is used to indicate if purchases by your company should be taxed.   If this box is checked, then all Purchase Order items will be taxed by default.  This option can be overridden on a vendor by vendor basis when this box is checks.  If the box is NOT checked, then sales to customers will NOT be taxed (Tax Exempt). 
Purchase Tax Rate - The Purchase Tax Rate box is used to set the default company wide Purchase Tax Rate for company orders to vendors.  This value must be entered in the format of 0.07 for 7% tax or 0.10 for 10% tax or 0.065 for 6.5% Sales Tax. 
Use Global Sales Tax Rate - The Use Global Sales Tax Rate check box is used to determine of Sales Taxes will be calculated using a Global tax rate or using a Per-Item Tax Rate.  If the Use Global Sales Tax Rate box is checked then the Per Item Tax Rate is not used.  This option applies to State/Province and Federal Sales Taxes.   
Use Global Purchase Tax Rate - The Use Global Purchase Tax Rate check box is used to determine of Purchase will be calculated using the Global Purchase Tax Rate only or by using a Per-Item Tax Rate.  If the Use Global Purchase Tax Rate box is checked then the Per Item Tax Rate calculations are not used. This option applies to State/Province and Federal Purchase Taxes.   
Federal Tax/GST Label - The State Tax/PST Label box is used to allow users to customize the tax label that will appear on Modules and Report for State or Province Sales.  The common entries for the U.S. is State Tax.  The Common Entry for Canada is GST Tax.  The default label is printed on all Purchase, Quote and Invoices Orders. 
Federal Tax Reporting or Exempt ID - This box is used to record your Federal/GST Tax Reporting ID.  The Sales Tax Reporting ID will be printed on sales tax reports for reporting purposes.  
Federal Tax Sales? - The Tax Sales check box is used to indicate if sales to customers will be taxed or if all sales to customers will be Tax Exempt.  If the box is checked, then sales to customers will be taxed by default. This option can be overridden on a customer by customer basis when checked.  If the box is NOT checked, then sales to customers will NOT be taxed (Tax Exempt). 
Federal Sales Tax Rate - The Sales Tax Rate box is used to set the default company wide Sales Tax Rate for Customers.  This value must be entered in the format of 0.07 for 7% tax or 0.10 for 10% tax or 0.065 for 6.5% Sales Tax. 
Federal Tax Purchases - The Tax Purchase check box is used to indicate if purchases by your company should be taxed.   If this box is checked, then all Purchase Order items will be taxed by default.  This option can be overridden on a vendor by vendor basis when this box is checks.  If the box is NOT checked, then sales to customers will NOT be taxed (Tax Exempt).
Federal Purchase Tax Rate - The Purchase Tax Rate box is used to set the default company wide Purchase Tax Rate for company orders to vendors.  This value must be entered in the format of 0.07 for 7% tax or 0.10 for 10% tax or 0.065 for 6.5% Sales Tax.