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Tax Codes [FM]

Tax Codes​

From the DockMaster menu, select File Maintenance, Tax Info, Tax Codes

Tax Codes identify the different tax calculations that are going to be used throughout the DockMaster application. For example, you may have a Tax Code for your State, City or County taxes. These would all have to be maintained as separate tax codes. Within the Tax Code, you can attach a Tax Group (maintained in separate code file) or indicate when a tax gets calculated with a starting and ending effective date.

If your Company is registered for multi-state tax collection for Boat Sales; you would make a tax code for each state. You will see these tax codes later in the Tax Schema Maintenance:

  • Code Description Rate
  • NY New York Resident Tax 7%
  • CN Connecticut Resident Tax 6%
  • NJ New Jersey Resident Tax 6%

Tax Code Maintenance

  • Tax Code- Enter any combination of up to 5 letters or numbers or press F6 to get a list of existing codes.
  • After entering a new Tax Code, enter a description of the code in the field to the right. Maximum length of 40 alphanumeric characters.
  • Tax Rate- Enter the Tax Rate percentage to charge for this tax code. The rate defaults out to 4 decimal places. For example, if you enter 2 (for 2%) it is displayed as 2.0000.
  • Tax Group-Enter a valid Tax Group code if applicable. The Tax Group code is used to further break down your Sales Tax Reports.
  • G/L Account- Enter the Sales Tax G/L Account that this tax code amount should post to or press F6 to list the Chart of Accounts if the G/L is installed. This is a required field.
  • Minimum Taxable- Enter the amount not subject to tax or press Enter to leave the prompt blank (no minimum). The software will only calculate tax over this amount.
  • Maximum Taxable- Enter the maximum amount that can be taxed or press Enter to leave the prompt blank (no maximum). The software will calculate tax up to this amount.
  • Minimum Tax-Enter a Minimum Tax Amount applicable for this tax code or press Enter to leave the prompt blank (no minimum). The software will apply this minimum tax amount if the tax amount calculated when this tax code is applied falls short of this minimum
  • Maximum Tax-Enter a Maximum Tax Amount applicable for this tax code or press Enter to leave the prompt blank (no maximum). The system will not tax more than the amount entered in this field.
  • Starting Effective Date- Enter a beginning start date for the system to know when to begin calculating the tax code. If left blank, then the tax code will be used everyday of the calendar year.
  • Ending Effective Date-Enter an ending date for the system to know when to stop calculating the tax code. If left blank, then the tax code will be used everyday of the calendar year.

--Is Taxed by Levels Grid--

The Tax Levels allow for taxing on existing tax schemas. Tax levels, basically set up "Taxing Authorities". For example, Level 1 might be "State tax", Level 2 might be "City tax" and Level 3 could be "County tax". If an additional tax must be calculated on an existing tax schema, indicate the tax in this grid. An example of when you might use this tax is if there is a tax on an existing tax.

For Example, let’s say that we have a Tax Schema called "FL" the tax on FL is 6%. In Palm Beach County, there is an additional sales tax of .5%. By entering in the Palm Beach County Tax as a level that is taxed, the FL tax is going to be taxed by the Palm Beach Tax. The taxes would calculate like this:
Amount Tax %
FL 20.00 1.20 6.00
PBC 21.20 .11 .5
Total Tax 1.31

To add the Tax Levels to the Tax by Levels grid:

  • Click in the Tax Levels Column to add a Tax Level.
  • Valid entries are either 1,2,3,4,5,or 6. (1 is the highest level. 6 is the lowest.)

--Supplemental Table--

A Supplemental Tax is used when you want to tax based on the amount of the purchase. Enter in the tax amount to be calculated when the amount of the sale falls between the specified amounts in the table. The Supplemental Tax will override the current tax code.

  • Click in the Amount is at least column and enter the minimum dollar amount that will be taxed. Press Enter
  • In the But no more than column, enter the maximum dollar amount that will be taxed. Press Enter
  • In the Tax Is column, enter the amount of the supplemental tax.

--Holiday Tax Table--

This tax table gives you the ability to assign a different tax rate during certain times of the year. This can be applied in Point of Sale, Service, Boat Sales or Order Entry. The start and end dates of the holiday tax will have to be maintained every year. This tax would override the current tax code.

  • Click in the Holiday Start column and enter the beginning date of the Holiday Tax. Press Enter

Note: Use proper date format. For example, for January 1, 2004 you can enter 010104 or 1.01.04.

  • Enter the ending date in the Holiday End column. Press Enter
  • Enter the Class Code if applicable. (Not a required field) You can assign a class code to items from the Inventory File that will honor the Holiday Tax. The Class Code description will default once the Class Code is selected. Select the List F6 from the Command Panel or press the F6 key for a list of valid class codes. Press Enter
  • Enter the Maximum Tax amount (if applicable). Press Enter
  • Enter the Tax Rate percentage for the Holiday Tax. If there is no tax, enter 0.