Use the Taxable/Exempt Sales report to print a list of all sales taxes charged to customers on sales, as well as sales of tax exempt items or services. Print this whenever you send in your sales tax income statement. This can be monthly, quarterly, or yearly.
Options
- Click the Options button to determine the data criteria for the reports you want to see or print. For this report Sage 50 displays the following filter options:
- Date: You have the choice of All, Range, Today, This Period, and the week, month, period, quarter, and year to date. If you select Range, you can enter a beginning and ending date.
- Summarize report: Checking this shows the totals for each taxing authority by taxable sales and the totals for each type of exemption.
- Select a filter: First, select a filter on the left. Then, define the options for that filter on the right. The options differ based on the filter selected. Tell me more about the types of filter options.
- Accounting Method for Sales Taxes: You can choose to report sales taxes on either a cash basis or an accrual basis. Some states require that the method used for sales taxes be on an accrual basis, regardless of your regular accounting method. Other states require that you use the same accounting method for sales taxes that you use for your regular accounting. Check with your state regulations for the correct method.