Total Legal Accounting 3
SECTION 18.104.22.168 - GST RATES
USAGE: To setup and enquire on the sales-tax rates and totals and to setup your company’s tax details.
This function has several facilities:
a) The primary function is to setup the user-definable tax rates. There are 12 tax rates available in T.L.A. These are used in BILLING.
Rate zero is always zero percent. This can be used for items that are sold at a zero rate of tax or for items that are sold inclusive of tax. It is confusing to use the same rate for both.
Rates 1 through 9 are user-definable. This means that you have the ability to set them yourself to any value from 0% to 99.99%.
Rates 10 and 11 are used for customers who either can claim an exemption.
To clear these totals, you must print the screen. T.L.A. will not offer you the option to clear until you do.
b) The screen displays the total accumulated sales within each tax rate. This is the total taxable value. If you multiply this by the rate, you will have computed the tax payable at that rate.
c) The screen appears as follows:
The function keys are as follows:
<F1> This allows you to change rates 1-9. There is no requirement to enter the rates in any order and you may leave any or all of the fields blank. You should be careful not to change a rate that has non-zero sales. This will cause confusion when printing total payable tax. When you have entered all the rates you require, press <F10> to update the files.
<F3> This initiates a report that lists the used rates and the tax payable. After you print the report (to the screen or printer) you will be offered the option to clear the totals. If you do, the totals will be set back to zero. You should do this once a month to generate a report. This is one method of calculating GST on Clients. The other way is to view the transactions in the General Ledger. The General Ledger also contains the Creditor GST transactions.
<F6> Rate zero is always at a zero rate but you can change the description. This is useful if you sell retail or inclusive of tax. In this case, change the literal to INCL. or RETAIL or another relevant description.
<F10> or <ESC> This will return you to the CLIENT/TRUST UTILITES MENU. Any changes you have made will already be applied.