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SedonaSetup Application Accounts Receivable Setup Tables/Options
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Purpose: |
To define codes to identify how an Invoice Item is to be classified for sales tax purposes. |
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Prerequisites: |
None |
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Required or Optional: |
Required |
An Invoice Item Type is a code assigned to each Invoice Item code, which enables the application to apply sales tax to the item on a customer invoice based on the type of service sold. Most government agencies base sales tax calculations on a defined list of sold service types. These types of sales are typically one of the following: Inventory Parts, Non-Inventory Parts,
Labor, Recurring Services, Non-Recurring Services.
The SedonaOffice software is delivered with a list of pre-defined Item Types; you may use these codes and create additional codes to handle complex sales tax situations, which may exist in a particular taxing jurisdiction. Do not delete the Item Types delivered with your software.
For information on How Sales Tax is Determined on customer invoices, follow the link.
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