Setting Up Records for Customer Accounting

To support customer accounting for prescribed goods, you must set up records in Tax Services specifically for this purpose.

To set up records in Tax Services for customer accounting:

  1. In the Tax Authorities screen:
    1. In the Tax Authority field, specify the tax authority you will use for customer accounting.
    2. In the Report Tax on Retainage Document field on the Profile tab, select At Time of Original Document.
  2. In the Tax Classes screen:
    1. In the Tax Authority field, specify the tax authority you will use for customer accounting.
    2. In the Class Type field, select Items.
    3. In the Transaction Type field, select Purchases.
    4. In the table, create a new prescribed goods purchases tax class.
    5. In the Transaction Type field, select Sales.
    6. In the table, create a new prescribed goods sales tax class.
  3. In the Tax Rates screen:
    1. In the Tax Authority field, specify the tax authority you will use for customer accounting.
    2. In the Transaction Type field, select Purchases.
    3. In the table, set the tax rate for your prescribed goods purchases tax class to be the same as the regular tax rate.
    4. In the Transaction Type field, select Sales.
    5. In the table, set the tax rate for your prescribed goods sales tax class to 0 (zero).

  4. In the Reverse Charges screen:

    1. In the Tax Authority field, specify the tax authority you will use for customer accounting.
    2. Specify an Input Tax Account, an Output Tax Account, and a Threshold Amount.
    3. In the table, for your prescribed goods purchases tax class, enter Yes in each column that will use customer accounting.
  5. In the T/S Tax Code Mapping screen:
    1. In the Tax Authority field, specify the tax authority you will use for customer accounting.
    2. In the Effective Date field, select 1/1/2019.
    3. In the Transaction Type field, select Purchases.
    4. In the Taxable column in the table, enter TXCA for your prescribed goods purchases tax class.
    5. In the Transaction Type field, select Sales.
    6. In the Taxable column in the table, enter SRCA-S for your prescribed goods sales tax class.
  6. In the Tax Groups screen:
    1. Create a tax group.
    2. In the first row of the table, add the tax authority you will use for customer accounting.

The way customer accounting transactions are handled varies depending on a number of factors. For details, including information about how Sage 300 processes input and output tax amounts, see Sage Knowledgebase article 95558.