How to Configure Sales Taxes in Acumatica
Follow these Steps to Configure Sales Taxes in Acumatica:
How to Define Sales Tax Rates
- Configure the Tax – Define the tax rate details; each tax is reported to a specific tax agency:
- Select Taxes > Profiles > Taxes
- Tax type: Sales
- Calculation rule: Inclusive Line-Level (method of tax calculation)
- Tax agency (created in the step above)
- Date when the tax becomes effective
- Tax rate
- Reporting Group: Taxable Sales
- Categories: Taxable
- GL Accounts: Update to appropriate accounts
- Define the Tax Zone – Define the groups of taxes that are applicable in a particular territory; these will be assigned to each customer location:
- Select Taxes > Profiles > Tax Zones
- Default Tax Category: TAXABLE
- Applicable Taxes: The state, county, and/or city taxes that will be used when the customer location is assigned to this zone. For example: TXHARRIS has taxes for TXSTATE and TXHARRIS
Additional Information and Setups
Check out these additional tips that may be applicable to your Acumatica Cloud ERP configuration.
How to Add a Vendor Tax Agency
Create a vendor account for the tax agency. Mark Vendor is Tax Agency within the Vendor Properties group on the General tab and update the Tax Agency tab appropriately. If a new tax agency is created, see notes below for setting up the reporting needs for the agency. These reports must be setup prior to setting up taxes.
How to Configure a Vendor Tax Agency Report
If a new tax agency (vendor) is added, you will need to configure the tax report required for this tax agency.
- Report Settings
- Select Taxes > Preferences > Report Settings.
- Report Lines – the required number of rows in which the value will be recorded
- Reporting Groups – the required reporting groups; this is the link between a particular tax and a particular line of the tax report. Must have at least one output reporting group.
- Reporting Groups
- Select Taxes > Preferences > Reporting Groups.
- View and edit reporting groups for each tax agency
- Input: VAT
- Output: Sales tax, Use tax