Overview
The Sales Tax Report is a vital tool for tracking and reporting sales tax for a specific date range. This ensures compliance with tax regulations and helps with accurate tax filings. The report provides a breakdown of sales tax owed, with options to filter by date, location, and tax agency.
Accessing the Sales Tax Report
Navigate to the Accounting Tab
Select the Sales Tax Report
Choose Date Range
Select Location (if applicable): If your business operates in multiple locations, choose the one you wish to generate the report for.
View by Tax Agencies (Optional)
Click the Apply Filters button to generate the report.
Understanding the Report
Once the report is generated, you will see a detailed breakdown of sales tax amounts. Key sections include:
Taxable Sales – The total sales subject to tax.
Non-Taxable Sales – The sales that are tax-exempt.
Total Sales Tax Collected – The sum of all taxes collected within the selected date range.
Breakdown by Tax Agency (if enabled) – Displays tax amounts categorized by different tax agencies.
NOTE: Clicking on any dollar amount will expand the section to show individual transactions contributing to the total.
Exporting & Sharing the Report
You can choose from several options to share or analyze your Sales Tax Report:
Print – Click the Print button to generate a print-friendly version.
Download – Save the report as a PDF or CSV file.
Export to Excel – Generate an Excel file for further data analysis.
Email – Send the report directly via email to relevant parties.
Common Use Cases
Tax Filing: Use this report to calculate and submit sales tax payments to tax authorities.
Verification: Cross-check tax amounts to ensure accuracy before filing.
Auditing: Keep records for tax audits and compliance reviews.
Frequently Asked Questions (FAQs)
Q: Why is my sales tax amount different than expected?
A: Verify that all taxable and non-taxable items are correctly categorized in the system.
Q: How do I check which transactions contributed to my total tax?
A: Click on any tax amount in the report to expand and view individual transactions.
Q: Can I generate reports for different time periods?
A: Yes, use the date filter to select your preferred reporting period.
By following these steps, you can efficiently track and report sales tax, ensuring compliance and accuracy in your financial records.
Below is a video that will show you how to access your Sales Tax Report: