If I remember correctly from reading the manual, you would set up multiple tax authorities, i.e.,
CCRA for the federal taxes, and PST (for B.C. as an example) and then in the tax codes, combine
these two authorities, i.e. CCRA and PST(BC) to create one tax code "GST + PST".
->I have to deal with a value added tax (VAT). How would you set it up? So
->far I have not managed. I have one tax authority and two rates.
->Unhappily there is no example for Canadian or International VAT. Thanks
->for your help.
->
->
->Ted wrote:
->> I think that a reading of the Peachtree manual would help here. What you need to do is to set
up
->> the "Tax Authorities" and the " Tax Codes" just as the manual describes, with Tax codes for HST,
->> GST+PST, GST only, and finally, Exempt, applying the tax authorities accordingly. Apply the tax
->> codes to the customer records, and change them as might be occasionally required on the invoice.
->> With the appropriate GL codes configured, then you don't have any further problems. You would
pay
->> your sales taxes according to your month/period end trial balance amounts.
->>
->> The only deficiency is that your invoiced taxes aren't disclosed separately, but lumped together
as
->> a total. If you have customers that require sales taxes to be shown separately, then set the
sales
->> taxes up in inventory as non-stocking items, with the price being the tax rate, and the quantity
on
->> an invoice as the accumulated amount of the invoice before the taxes are applied.
->>
->> Most Canadian Peachtree users with whom I'm in touch use the native Peachtree "Tax Authorities"
and
->> the " Tax Codes", and I've never heard of any complaints from them about sales tax auditors
->> complaining. In my experience, it's only Canadian Quickbooks accountants who might take
offence.
->>
->>
->> On 26 Nov 2003 05:57:36 -0800, (e-mail address removed) (cmuso) wrote:
->>
->> ->On customers purchase various goods, some of the items are subject to
->> ->PST and some items are subject to both PST and GST. How can I handle
->> ->this in PT. It appears to globally calculate the tax based on the
->> ->customer sales tax code. Is there something I am missing?
->>
->>
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