Instructions for setting up the last two type of codes are in the appropriate appendixes in the back of this manual. This chapter covers instructions for the first two tax code types.
User tip: The Tax Codes "ALW", "NEV" and "EXM" can be used to streamline insurance (and dealership) logic rentals. Refer to the chapter Overview - Insurance Replacement - I Subwindow Vouchers for details.
To access the Edit Tax Code File Menu type EDITTAX (RET) at any menu "OPTION:" field or the appropriate number on the Accounting Control Field Menu. The screen will then display:
User Tip: See notes at the end of this chapter for other non-taxable rentals. (Other tax Option codes defined with an upper case "T")
| OPTION: TAX CODE FILE MAINTENANCE 1 Tax Code 2 Description 3 Tax Percent 1 4 Main Acct 5 Sub Acct 6 Tax Percent 2 7 Main Acct 8 Sub Acct 9 Tax Percent 3 10 Main Acct 11 Sub Acct 1SAVE 2NEXT 3ERASE 4DELETE 5BACKUP 6 7HELP 8 |
Enter data as follows:
|
1. TAX CODE |
Enter up to 3 alphanumeric characters to represent this tax structure. EXAMPLE: Type LA (RET) |
|
2. DESCRIPTION |
Enter a description of the tax code using up to 25 characters. EXAMPLE: Type LA COUNTY TAX (RET) If you are creating a Tax Code to flag non-taxable renters, see the Note at the end of this chapter. |
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3. TAX PERCENT 1 |
Enter the first tax percent that applies to this tax code. The entry may be from 0 to 99.999. As an example, 6% would be entered as follows: EXAMPLE: Type 6 (RET) |
|
4. MAIN ACCT |
Enter up to 4 numeric characters to indicate the G/L account that the first tax percent is to be posted. EXAMPLE: Type 2350 (RET) |
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5. SUB ACCT |
Enter up to three numeric characters to indicate the profit center number of the location to which all sales tax is to be posted. EXAMPLE: Type RET |
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6. TAX PERCENT 2 |
Enter the second tax percent that applies to this tax code. The entry may be from 0 to 99.999. As an example, one half of 1% would be entered as follows: EXAMPLE: Type .5 (RET) |
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7. MAIN ACCT |
Enter up to 4 numeric characters to indicate the G/L account that the second tax percent is to be posted. EXAMPLE: Type 2351 (RET) |
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8. SUB ACCT |
Enter up to three numeric characters to indicate the profit center number of the location to which all sales tax is to be posted. EXAMPLE: Type RET |
|
9. TAX PERCENT 3 |
Enter the third tax percent that applies to this tax code. The entry may be from 0 to 99.999. As an example, two and one-half percent would be entered as follows: EXAMPLE: Type 2.5 (RET) |
|
10. MAIN ACCT |
Enter up to 4 numeric characters to indicate the G/L account that the third tax percent is to be posted. EXAMPLE: Type 2352 (RET) |
|
11. SUB ACCT |
Enter up to three numeric characters to indicate the profit center number of the location to which all sales tax is to be posted. EXAMPLE: Type RET |
The screen will then display:
| OPTION: __ TAX CODE FILE MAINTENANCE 1 Tax Code LA 2 Description LA COUNTY TAX 3 Tax Percent 1 6.000 4 Main Acct 2530 5 Sub Acct 6 Tax Percent 2 .500 7 Main Acct 2531 8 Sub Acct 9 Tax Percent 3 2.500 10 Main Acct 2532 11 Sub Acct 1SAVE 2NEXT 3ERASE 4DELETE 5BACKUP 6 7HELP 8 |
PRESS "F1" AT "OPTION:" TO SAVE THE RECORD.
This tax code would create a 9% tax which would post to three different G/L accounts.
NOTE: Non-Taxable Tax Codes
Contracts opened with the Non-Taxable tax code normally do not have a tax charge on them, so entering a G/L account in Field #4 would seem unnecessary. However, on occasion a contract coded as Non-Taxable might have a manual tax calculation added to it on the Closing screen. If a G/L account is not specified in Field #4, the tax has no where to post so it will post to Account “0000”. This is why it is necessary to enter a G/L account number in Field #4 for the Non-Taxable code.
User tip: Other tax Option Codes (defined with an upper case "T") will NOT be exempted by a Non-Taxable Tax code created here. This feature is only used for "t" taxes (lower case "t") which are generally used for the "primary" or "main" taxes that are imposed by the taxing jurisdictions, basically know as Sales Tax or Provincial Sales Tax. All taxes can be exempted by creating an Option Set which includes all taxes and/or fees to be exempted.
Create an option set in Edit Option Set Codes with the taxes to be exempted.
Create a privilege code in Edit Privilege Codes and list this set on page 2 field 22.
Create a CDP contract record in Edit Contract that lists the privilege code in field 4.
Create a CDP record in EDIT CD with the contract in field 5.
Or, the exempt Option Set can be placed on a Rate Code in Edit Rental Rules/Rates. See the field: Exempt Opt set. (page 1, field 52)