Working with Item Tax Options

To find out more about www.salesorder.com‘s accounting prowess, have a look here, or click here to set an appointment. Item Tax Options (ITOs) are flags indicating if a particular Line Item is Taxable or not. By default a single ITO exists which is called ‘Taxable’. You can specify as many ITOs as you wish, each has a name and a … Read More

Working with Tax Groups

To find out more about www.salesorder.com‘s accounting prowess, have a look here, or click here to set an appointment. Tax Groups group together a set of related Tax Codes and present a single rate which is the sum of the constituent Tax Code Rates. Tax Groups are used when you need to apply multiple Tax Rates to your Sales Line … Read More

Working with US Sales Tax

To find out more about www.salesorder.com‘s accounting prowess, have a look here, or click here to set an appointment. If you are trading from the United States of America and your base currency is USD, USA Sales Tax functionality is incorporated in your system. To understand how Sales Tax works, first understand the below documents and their interrelationships: Tax Authorities … Read More

Working with VAT Returns

To find out more about www.salesorder.com‘s accounting prowess, have a look here, or click here to set an appointment. VAT Returns (i.e. the VAT100 form) can be generated automatically. If all purchases and sales were entered using the Transactional Documents, and the correct Tax Codes in the associated Line Items have been used, a correct VAT Return Document from the … Read More

Working with HMRC (UK Specific)

To find out more about www.salesorder.com‘s accounting prowess, have a look here, or click here to set an appointment. HMRC (short for Her Majesty’s Revenue and Customs) is the government body in the UK responsible for administrating, amongst other things, Value Added Tax (VAT). In the UK companies with a turnover above a certain level have to be registered for … Read More

Working with Tax Authorities

To find out more about www.salesorder.com‘s accounting prowess, have a look here, or click here to set an appointment. Tax Authorities represent government bodies that collect Tax and/or issue Tax refunds. In the UK a Tax Authority would be Her Majesty’s Revenue and Customs or HMRC, which also deals with Value Added Tax (VAT). In the US, Tax Authorities would … Read More