Modify a Sales Tax

Related topics

Add or remove a sales tax

Add or remove tax information on Sage 50 Forms you've created or modified

Switch to single-user mode (Sage 50 Premium Accounting)

To modify a sales tax:

  1. In the Home window, on the Setup window, choose Settings.
  2. On the left side of the window, click Company, then Sales Taxes, and then Taxes.
    3. Details about modifying a sales tax
    In this column Enter or select the following information
    Tax Type the name of the tax.
    Tax ID Include on Forms Type a tax ID, such as your Canada Revenue Agency (CRA) Account Number, that you are required to include on invoices and other forms that use this tax.
    Exempt from this tax? Click to change to Yes or No if your company does or does not pay this tax on purchases.
    Is this Tax taxable? Click to change to Yes or No if this tax is or is not subject to other taxes. For example if an additional tax is charged on GST/HST, in the GST/HST Is this tax taxable? column click to select Yes and then in the Charge on column, click to select the additional tax or taxes being charged on GST/HST.
    Acct. to track tax paid on purchases If your company is not exempt from this tax, click Finder button to select the account to track tax paid on purchases.
    Acct. to track tax paid on sales If your company is not exempt from this tax, click Finder button to select the account to track tax paid on sales.
    Report on taxes Click to change to Yes or No to include or exclude this tax in the Tax report.
  3. Click OK.