SedonaSetup Application Accounts Receivable Setup Tables/Options
Tax Table Setup
Tax Table - The code you will use for the tax table. You are limited to 25 characters in this field. If your company does business in multiple states, you may want your tax table codes to begin with the two character abbreviation of the state.
Description - The description for the tax table. You may enter up to 50 characters to describe the tax table.
Account - Select a G/L account from the drop-down list from the Chart of Accounts setup table which liability account you want to post sales tax transactions.
Tax Agency – Select the Tax Agency from the drop-down list to whom you will remit sales tax collected for this tax table.
Item Types – Check the box to the left of each Item Type where the type of service provided is taxable in this tax table jurisdiction.
Effective Dates & Formula
Effective Date – Enter the first date this tax table went into effect.
End Date – If the tax table is still in effect
Rate – Enter the tax rate that applies to this tax table. Six percent would be entered as 6.0.