12.2. Setting up Sales Tax Tables

Sales Tax Tables can used to determine the tax for customer invoices (or vendor bills).

A tax table entry can be assigned to an invoice line or bill line.

Set up distinct tax tables for customers and vendors.

The default invoice tax table entry can be assigned to each customer and the default bill tax table entry can be assigned to each vendor.

The default tax table entry for new customers or new vendors can be specified in the Book Options window which can be accessed by FilePropertiesBusiness tab.

Sales Tax Tables are maintained using the Sales Tax Table editor which is accessed via menu BusinessSales Tax Table .

Figura 12.1. Sales Tax Tables Editor

Sales Tax Tables Editor

Figura 12.2. New Sales Tax Table Entry

New Sales Tax Table Entry

The following charts illustrate sample tax tables and may be used as starting points to determine the setup appropriate for a particular jurisdiction.

Tabela 12.1. Sample Tax Table Entries for EU country (e.g. 21% / 6% / 0% Belgium, 20% / 5% / 0% UK etc.) (2017)

Tax Table Tax Table Entries [Asset/Liability] Percentage or Amount
Standard VAT Sales VAT:Sales:Standard [L] 21%
Reduced VAT Sales VAT:Sales:Reduced [L] 6%
Zero-Rated VAT Sales VAT:Sales:Zero [L] 0%
EC Sales VAT:Sales:EC [L] 21%
VAT:Sales:Reverse EC [L] -21%
Standard VAT Purchases VAT:Purchases:Standard [A] 21%
Reduced VAT Purchases VAT:Purchases:Reduced [A] 6%
Zero-Rated VAT Purchases VAT:Purchases:Zero [A] 0%

Tabela 12.2. Sample Tax Table Entries for Australia (2017)

Tax Table Tax Table Entries [Asset/Liability] Percentage or Amount
Standard GST Sales GST:Sales:Standard [L] 10%
GST-free Sales GST:Sales:Zero [L] 0%
Standard GST Purchases GST:Purchases:Standard [A] 10%
GST-free Purchases GST:Purchases:Zero [A] 0%

Tabela 12.3. Sample Tax Table Entries for Cook County, Illinois (2017)

Tax Table Tax Table Entries [Asset/Liability] Percentage or Amount
Chicago Sales Taxes Taxes:Sales:State [L] 6.25%
Taxes:Sales:City [L] 1.25%
Taxes:Sales:County [L] 1.75%
Taxes:Sales:Region [L] 1%