Using Tax Tables

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Using Tax Tables

 

Overview

If you are using version 3.1.3 or later of StockTrac® Enterprise, you now have the ability to calculate your sales tax based on a Tax Table. This was put into the system based on how Florida uses tax tables. If your state or province uses them, this process may need to be changed based on your calculation method.

 

Procedure

From the Configuration module, go to Shop, Tax Tables to set your table up.

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The following screen will display:

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Click on Add to create a new tax table.

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You can have as many tables set up as needed for your area.

The table is based off of the “cents”, so you only need to define between 0.00 and 0.99. The dollar tax amount is taken from the standard tax rate (in this case 6%). Make sure to name your table, and then your screen will look like the one above. The Cents Range Start will fill in for you starting at 0. You will then put the Cents Range End to be the end of the first bracket. Fill in the Tax amount for that bracket. This will put you on the next line with the start already filled in – continue on until you are at .99.

 

Next go into Shop, Sales Tax Setup (also in the Configuration module).

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The following screen will display:

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Make sure your base tax rate is setup, and then click on the drop down under Tax Table to select the tax table that goes with this tax rate.

For example, if a part is $52.35, the tax will be 6% of $52 ($3.12) and then an additional $.03 from the tax table, making the tax total $3.15.

 

 

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