Managing Your Tax Table

Managing Your Tax Table

This article explains how to build and edit the tax table within our system. Your tax table allows you to configure the various tax rates that apply to your sales.

Building Your Tax Table

  1. Navigate to the Setup Wizard tab in the software.
  2. Within the Setup Wizard, click on the Tax Table tab.
  3. Click the Setup Tax Table icon.
  4. Insert a New Tax Rate:
    • Click the Insert icon.
    • In the "County" field, enter a descriptive label for this tax rate i.e., CA-GALT vs CA-CERES
    • Enter the overall tax rate 
    • Select a GL Code (General Ledger Code) for this tax. For example, you might choose a code labeled "TAX."
  5. Adding Municipality Breakdown (Optional):
    • If you need to track tax revenue at a more granular level (i.e., state, city, local), you can utilize the five additional levels provided.
    • For each level you need (i.e., "State"), enter the corresponding label in the designated field and then enter the specific tax rate for that subsection.

Example:

  • Level 1 Label: State
  • Level 1 Rate: 6.25 
  • Level 2 Label: City 
  • Level 2 Rate: 1.00 
  • Overall Rate: 7.25
  1. Designating a Grouping Code (Optional):
    • If required for reporting or organization, you can enter a grouping code for the overall tax rate in the designated field.
  2. Click OK to save the new tax rate entry.

Editing or Inactivating an Existing Tax Rate

  1. Go to the Tax Table within the system (following steps 1-3 above).
  2. Highlight the specific tax rate you want to modify or inactivate.
  3. Click the Change icon: This will open the editing window for the selected tax rate.
  4. Edit Rates: Modify the overall tax rate or any of the municipality-specific rates as needed.
  5. Mark as Inactive (If Applicable): If you want to stop using this tax rate but retain it in your records, check the Inactive box.
  6. Click OK to save your edits.

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