Sales Tax
TrackAbout processes sales tax data imported from the existing accounting system.
Sales tax is calculated on each line individually. This is required for integration to TECSYS. The total on each line is added up get the total for the rental bill. Due to rounding it is possible for the total to be off by a penny when calculating the tax using just the subtotal vs calculating it on each line and then adding up the lines.
Tax Categories
TrackAbout will work with customers to setup Tax Categories. Tax categories indicate how each billable item is taxed. All of the rental methods must be assigned to a tax category. Note: Rental methods include Daily Rental and Monthly Rental. Assigning the rental methods to a tax category allows daily rental to be charged tax differently than monthly rental. Other billable items that can be charged on a rental bill must also be put into a tax category as part of its configuration. These include Rental Class, Flat Fees and Asset Agreement Types. Note: TrackAbout must setup the Asset Agreement Types. Examples of Tax Categories include, but are not limited to:
- Cylinder Rental
- Demurrage
- Hazmat Fees
- Delivery Charges
Setup Tax Categories on the Tax Category page
Tax Region
TrackAbout allows for the creation of many tax regions within the configuration. These tax regions are typically created via an import of data from the existing accounting system. Each tax region contains the appropriate state, county and city tax rates. Depending on the configuration of the integration of the existing accounting system, a single blended rate may be used. Each tax region also requires an appropriate Charge Code or General Ledger Code to properly report data back to the accounting system. During the accounting integration, every customer is typically assigned to a tax region. This can be viewed and edited from the Rental section of the Customer Detail screen.
Note: In some cases, the ability to edit the tax region in TrackAbout may be disabled so that the data is forced to come from the accounting system.
Setup tax regions on the Rental Tax Region page.
Tax Exemptions
TrackAbout allows for the ability to mark certain tax categories in a particular tax region as tax exempt. This takes into account that one state may be tax exempt while another is not.
TrackAbout also allows for each individual customer to be marked as tax exempt. This setting can be viewed from the Rental
section of the Customer Detail page.
Note: This data normally comes from the import of data from
the accounting system. To update this information, go to Integration > Import Customer Info
and click on the link to see the expected file format. Make sure that your file from the Accounting system is in the format specified.