SedonaSetup Application Accounts Receivable Setup Tables/Options
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Purpose: |
To define taxing entities for use in calculating sales tax on customer invoices. |
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Prerequisites: |
None |
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Required or Optional: |
Required |
The Tax Table is used to define the various taxing entities. Based on the physical location where service is provided, you will build your Tax Tables to meet the local taxing jurisdiction’s specific laws or requirements. When a Tax Table entry is created you select the Taxable Item Types that apply to the taxing jurisdiction.
Each Tax Table consists of two data entry forms; one to identify the code and information about the tax table, and the second to identify what date the tax rate when into effect, the tax rate, and the method of calculation to be used for the tax table.
If your company is not collecting and remitting sales tax to a government agency, you will still need to set up one tax table labeled Non-Taxable and set the tax rate to zero.
Follow the page links at the bottom of this page for definitions of each field on the Tax Table Setup forms.
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