Each Sales Tax Rate record stores a tax rate that may be applied to an order, depending on how the order's characteristics match the values specified. See "Sales Tax" on page 25 for information on how Aptify selects an applicable Sales Tax Rate and calculates sales tax. Sales Tax Rate Form Image Removed

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Attachments Tab

The Attachments tab lists any files relevant to the Sales Tax Rate record. This tab becomes available when the record is first saved.

Accounting Tab

Liability Recognition

Select from Cash or Accrual method. With the Accrual method, the sales tax liability is recognized at the time the order is shipped. In other words, the system credits Sales Tax Payable account at the order level. When set to Accrual, the General Ledger (GL) Payable and GL Receivable accounts must be specified. These fields display the GL accounts as configured in the GL Accounts service.

With the Cash method, the sales tax liability is recognized at the time payment is received. In other words, the system credits the Sales Tax Payable account at the payment level. In the Orders record, the system credits the sales tax amount to the Unearned Revenue account, which is then reversed in the GL entries in the Payments record. Therefore, when set to Cash, the GL Payable, GL Receivable, and GL Unearned accounts must be specified.

GL Payable Account

This field specifies the GL account that will be credited on an order to record an organization's sales tax liabilities. This field displays the GL accounts as configured in the GL Accounts service. Note that this field is required when Liability Recognition is set to Accrual.

GL Unearned Account

This field is only applicable and required when Liability Recognition is set to Cash. This field specifies an Unearned Revenue account that the system credits at the order level and debits at the payment level.

GL Receivable Account

The GL Receivable Account specifies the Accounts Receivable (A/R) account to use for this sales rate. Aptify debits the A/R account in the amount of the tax at the order level and credits the A/R account at the payment level.
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Comments Tab

The Comments tab contains any comments relevant to the Sales Tax Rate record.

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