Field Definitions: HQ Tax Codes Form

The following is a list of field descriptions for the HQ Tax Codes form. Many of the descriptions include links to other topics that provide additional information about or related to the topic.

Tax Code

Enter a tax code, up to 10 characters.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Description

Enter a description of the tax code, up to 30 characters.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Multi-Level Tax Code

Check this box if this is a multi-level tax code; that is, you will be using this code to combine and post multiple taxes (e.g. state, city, and county tax). You will not specify a rate for this tax code. Instead, the system will calculate the tax rate based on the combined total of this code’s assigned single level tax codes.

Leave this box unchecked if this is a single level tax code. You will need to specify old and new rates for this tax code for calculating taxes. (Note: Use the Single Level Members tab to link single level tax codes to multi-level tax codes.)

 

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Rates: Old

Enabled for Single Level tax codes only.

Indicate the rate to use for calculating taxes if the posting date is earlier than the Effective date specified below.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Rates: New

Enabled for Single Level tax codes only.

Enter the new tax rate to use whenever posting date is equal to or later than the Effective date specified below.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Effective Date

Enabled for Single Level tax codes only.

Specify the date on which the new rate specified above becomes effective.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Credit GL Account

Enter the GL liability account for the following:

  • Posting use tax in AP, JC, EM, and IN.
  • Posting sales tax in JB and AR.
  • Tracking tax on sales amounts for VAT codes.

Press F4 for a list of valid accounts.

Note: Check online help for each of the modules listed above for additional information on tax calculations.

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

JC Tax Phase

Specify the phase (from JC Phases) for this tax code. If you specify a phase here, tax expensed to a job will be posted to this phase. If left blank, tax will be posted to the phase designated in the transaction.

 

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

JC Tax Type

Enter the cost type (from JC Cost Types) for this tax code. If you specify a cost type here, tax expensed to a job will be posted to this cost type. If left blank, tax will be posted to the cost type designated in the transaction.

 

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Linked Tax Code

For use with multi-level tax codes only.

Specify the single level tax code to link to this multi-level tax code. The old and new rates for the tax code are displayed to the right. The use of these rates for calculating taxes is determined by the Effective date specified for the tax code.

Note: Once you assign a single level tax code here, the multi-level tax code to which it is assigned will be updated to the ‘assigned to multi-level codes’ grid for the tax code.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Value Added Tax (VAT)

Check this check box to use this code for handling VAT requirements. If this is a multi-level tax code, you must select this check box for all associated single-level codes.

Leave this box unchecked if not using this tax code to handle VAT requirements.

 

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Federal Goods & Services Tax (GST)

This option is only enabled for single-level VAT codes.

Check this box to have the system use this code for GST requirements.

Leave this box unchecked if not using this tax code for GST requirements.

 

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Include GST in PST

This field applies to certain provinces in Canada only.

Select this check box to have the system include Goods and Services Tax (GST) in the tax basis when calculating Provincial Sales Tax (PST). The system enables this check box for single-level VAT codes. You cannot select this check box for GST codes.

 

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Credit GL Retg Account

Enter the GL liability account for tracking retainage tax on sales amounts for VAT codes.

Press F4 for a list of valid accounts.

Note: The name of this field displays as Credit GL Ret Account for Australian companies and Credit GL Hdbk Account for Canadian companies.

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Credit GL Hdbk/Ret Tax Acct

This field applies to Australian and Canadian users only.

The system enables this field when you have selected the following check boxes:

  • Tax basis is net of retention (Australia) or Tax basis is net of holdback (Canada) in the AP Company Parameters form (Invoice Options tab)
  • Value Added Tax (VAT) on this form

Enter the GL account to track retainage ITC payables. Press F4 for a list of GL accounts.

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Expense Tax Paid (Used to Track Tax Credit)

This box applies to Australian and Canadian users only.

The system enables this option for single-level VAT codes used for GST requirements.

Australia

Check this box to track Input Tax Credits (ITCs) separately from tax on sales. Once you check this box, the system enables the Debit GL Account and the Debit GL Ret Account fields.

Canada

Check this box to track Input Tax Credits (ITCs) separately from tax on sales. Once you check this box, the system enables the Debit GL Account and the Debit GL Hdbk Account fields.

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Debit GL Account

The system enables this field when you check the Expense Tax Paidbox.

Enter a GL account for tracking the Input Tax Credit (ITC) amount paid to vendors.

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes

Debit GL Retg Account

The system enables this field when you check the Expense Tax Paid box.

Enter a GL account for tracking retainage Input Tax Credits (ITCs) separately from standard ITCs.

Note: The name of this field displays as Debit GL Ret Account for Australian companies and Debit GL Hdbk Account for Canadian companies.

Setting up tax codes : US

Setting up tax codes : Canada

Setting up tax codes : Australia

HQ Tax Codes