Sales Taxes
Big Business 8.7 simplifies Sales Taxes, making it easy to calculate and track taxes where different rates apply to different items, such as food and non-food, or different rates apply for different amounts.
This Solution describes the settings for Sales Taxes. (6299)
To define a simple Sales Tax, enter:
• Sales Tax Name - to identify the Sales Tax, such as "Charlotte" or "Out-Of-State"
• Account Code - for Sales Tax collected, like "2310 - Sales Tax Payable"
• Tax Rate - a percentage entered as a number like "7.25" for 7.25% tax
Click OK to save your Sales Tax definition.
To define a more complex Sales Tax, you might add:
• Group - to use grouped menus, such as by State
• Calc 1st - set a Tax Rate to apply first in a compound calculation
• Tax #2 - set a Tax Rate to use a second tax calculation for different items
• Limit - set a Tax Rate to apply up to the Limit specified
• Tax Tag - sets the Tax checkbox for Items with the Tag so only tagged Items are taxed
Please contact Support for help with settings. There are also options for Taxable Amounts to be used in Other Charges, to have Other Charges included in Taxable Amounts, and so on.
The pictured Sales Tax sets Items with the Tag, "Non-Food" to be taxed at 7.25% and other Items marked Taxable to be taxed at 2%.
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