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Configuring Taxes
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Configuring Taxes

Tax Overview

BillMax supports a single tax per Sale model. Tax is assessed on each Sale if the following two statements are true:

[Important] Important

Assume that all Accounts are taxable unless a tax-exempt certificate is submitted by the Account holder. Do this even if all Sales are non-taxable. Future Sales may be taxable.

In addition, BillMax supports partial tax exemptions. These are sometimes referred to a "Texas Tax" exemptions.

The first exemption supported is "The first X dollars monthly for a service is exempt from tax". BillMax supports this by analyzing all the Sales for an Account every time a Financial Transaction is entered. The analysis is done based on the starting and endding dates of the sale.

The second exemption supported is "X percent for a service is exempt from taxation".

Both exemptions are specified when configuring a Service Definition. See the section called “Configuring a Service Definition”;.

Configuring Tax Rates

Click on the Settings link on the Navigation Bar. Click on the "SALES TAX REGIONS" button. The "SALES TAX" page will be displayed. This page is composed of the following:

Figure 3.9. BillMax Company Basic Options

BillMax Company Basic Options


(1)

Internal ID used to identify the tax. Click on the link to bring up a tax record.

(2)

The sales tax description. This is specified when setting up a Account. See Administering Accounts.

(3)

The sales tax rate. This is NOT a percentage. Enter 0.0825 to represent 8.25%.

(4)

The date a sales tax is effective. At the time a Sale is recorded, the amount of the Sale before this date is not taxed, but the amount after this date is taxed.

(5)

User specified sort order of entries. Used for display purposes.

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Document Revision A for BillMax 2.2.0   -   Copyright © 1997-2006 The iSpark Group, Inc.

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