Tax Reporting

Tax Reports are found in Accounting > File > Month End > Tax Reports

Differences between listed options:

• Print Taxes Due – The Print Tax Due is actually multiple reports which are a working list for reconciliation and preparation for payment.  Only records with an unpaid tax status will be included.  Depending upon the type of sales for the month, up to four reports may print.  Those are Sales Tax, Use Tax, Resale or Tax Exempt.
• Print & Post Tax Due
  • The word “Post” does not mean that anything is posted to the General Ledger/Journal or Accounts Payable.
  • Running the Print & Post Tax Due will post the date on each order’s job cost record.

 

• Unpost Taxes – This is not a report. This function is used if the Print and Post was run in error.
• Print Tax History – This report will reproduce the information in a previously posted date range.

DETERMINING THE OPTIONS OF THE REPORT:

 Month Taxes Are Due – This date is the date of the tax liability. Taxes may be paid in the following month, but the date required in this field must be the month of the actual taxes.

1. Specify the date - This date is based on when the taxes were generated, not when it is to be paid.
2. Stores – The tax reports can be run for a single store, multiple stores, or multiple stores combined (if the combine box is checked).
3. Subtotal – These boxes will not change the totals of the report. However, if tax submission requires the state and county information to be separated, the boxes will provide that information.
4. Cost to Use for Use Tax (only applicable if set for Use or Line tax) 
   • Gross Cost – Landed cost for inventory per accounts payable invoice.
   • Net Cost – Landed cost for inventory per accounts payable invoice minus discounts plus freight costed on accounts payable invoice (Gross Cost – AP Discount + AP Freight).
     • NOTE 1: Freight Factor from the product file will not factor into the Net Cost
     • NOTE 2: If an inventory record is edited AFTER costing, tax reports will look at the inventory record's current value (This applies to both Gross and Net).
   • Include Material GROSS Cost on the Use Tax Report – Checking this box will allow tax report to provide both gross and net cost information
5. Output CSV To – This will push the information from the report (and more) to a csv file for reference and any additional needed calculations.

Sections of Tax Report

Sales Tax:

The Tax Liability portion of the report will provide the invoice total, tax base, the amount collected, and the amount due for both Sales Tax and Misc. tax.

 

Use Tax:

The Use Tax report listed above reflects the option to report on Net Costs, but also notates the Gross Costs.  The report also states the invoice total and use tax figures.

 

Tax Exempt:

Although no taxes are due, invoice totals for tax exempt jobs are accounted for in the Tax Exempt Deliveries report.

 

Resale:

Although no taxes are due, invoice totals for tax exempt jobs are accounted for in the Resale Deliveries report.

 

ADDITIONAL NOTES:

• If the same invoice is listed multiple times with both positive and negative amounts, that indicates that the order was un-job costed and/or re-job costed.
• Orders that were un-job costed and/or re-job costed using a previous month’s date, will appear on the current report.
• Sales tax amount collected and due can vary by either fractions of cents or if the tax field(s) within the order was manually adjusted.

Unpost Taxes

Accounting>File>Month End>Tax Reports>Unpost Taxes

This selection allows tax records that were previously marked as paid during the Print and Post Tax Due routine to be unmarked, using the date entered when the Print and Post Tax Due was originally done. 

Print Tax History

Accounting>File>Month End>Tax Reports>Print Tax History

This report prints taxes paid for the period specified.  A beginning and ending month are required. The tax report always subtotals by city as a default setting.  Subtotaling by state and or county is also possible. The reports may be printed for an individual store code, a group of store codes or for all store.

When posting all tax checks to the check register, they should be posted to the Sales Tax Payable account code.  Then, when entering that figure at the time of Journal Close, the system will post it as a Sales Tax Expense.

If the report says Proposed then the Print and Post has not been completed.