Time for action - setting up sales tax tables
We will set up tax tables for a jurisdiction that has separate taxes for the state, county, and town. Once the tax tables are setup, you can use them to charge the applicable taxes on invoices.
- Prerequisites: Make sure you have three sales tax accounts VA Sales Tax, Fairfax Sales Tax, and Vienna Sales Tax of type Liability and with Liabilities as the Parent Account.
- From the menu select Business | Tax Tables.
- In the Tax Tables dialog, click the New button in the Tax Tables pane. In the Name field, enter VA-Fairfax-Vienna. Enter 4.00 in the Value field, select VA Sales Tax in the Account field drop down, and click OK as shown in the following screenshot.
- That accounts for the state sales tax. We now have ...