Sales Tax Management
Handling the various sales tax one company may deal with is easily manageable within BUSINESS. Instantly add a sales tax into the system whilst simultaneously creating a vendor for that sales tax agency. This way, you are already set to use this vendor for future AP transactions. Setting up is quick and easy, requiring you to determine one of three things to begin: Are you putting in a State Tax, City Tax, or Other Tax.
Based on a user’s choice, the steps will unfold to accommodate the next actions. A common denominator amongst the three choices is the ability to claim if this sales tax is a Tax Group. In essence, a tax group will allow the user to create a sales tax rate that groups multiple taxes together. Imagine if you have a State tax as well as a City tax, if a tax group is required in this instance, the user can choose from a drop down menu and completer their grouping.
It’s imperative to note that inputting your sales tax agencies into the system is crucial and extremely beneficial to not only an import of customer and vendor information, but to the creation and follow-through of orders in BUSINESS. Users have a choice of whether to connect a sales tax directly with a customer’s location, for example, right from that customer’s location settings. From this area, setting a designated sales tax for a location will connect that location when used as a Ship To on an order and bring in the correlating tax agency.
Even more so, users don’t necessarily have to designate a sales tax to each location – now, unless you plan to have a New Jersey Sales tax placed for a location in New York then by all means, set that up under the customer location. BUSINESS is designed to logically connect the state in a Ship To to the sales tax that matches within that state. So, if you have a Philadelphia Ship To location, the system will connect it to a Philadelphia sales tax you have placed in your Sales Tax Agency list. You do not need to designate a sales tax for each location if this is the case.
When creating orders and using a sales tax, users will find it convenient that by clicking onto the sales tax line they have access to not only show a sales tax agency – if that is indeed the case, but they are able to state here if this order will be tax exempt. Do keep in mind that tax exemption can also be set at the customer level via a checkbox in their info section. In summary, the flexibility in managing sales tax within BUSINESS will give users multiple options on how to place them accordingly.