Dealerlogic uses Tax Codes to determine the behaviour of the GST on each transaction you create. The Tax Codes in Dealerlogic have been set up for you and under normal circumstances it should not be necessary for you to add or change from the preset tax codes.
The Tax Code behaviours are controlled by the Tax Type of which there are several:
oNot Taxable applies to transactions that have no Tax implications whatsoever, and do not appear on your BAS Report. An Example would be an inter-account transfer.
oSales Tax was abolished in Australia on 30th June 2000 with the advent of the New Tax System. Who knows when it’s coming back!
oGoods & Services Tax identifies any transactions affected by GST even if the item is GST Free, such as bank fees etc. This tax type will require GL accounts to be selected for Tax Collected and Tax Paid.
oInput Taxed represents a transaction that does include GST but due to its nature cannot be used to claim an Input Credit. Examples include expenses incurred for the purpose of generating residential rental income or expenses of a private nature.
oLuxury Car Tax can only be used to identify the Luxury Car Tax component of a vehicle sale, and should never need to be selected into a transaction as it will automatically occur from the vehicle sale.
oNotional GST represents vehicles purchased from a vendor who does not supply a Tax Invoice, and as such their input credit cannot be determined or claimed until Sale. This Tax Code is used automatically where required on a vehicle purchase and should never need to be selected into a transaction.
•Open the Tax Codes Window by clicking Tax Codes in the Logic Centre or under Setup in the Dealerlogic Menu. •Click New. •Enter your Tax Code. The code can be up to 4 characters long (only alpha characters are permitted). •Add a Description in the field provided to adequately identify the Tax Code you are creating and its purpose. •Add the Tax Type. The Tax Type will determine the behaviour of the Tax Code and as such, it is important to select the correct Tax Type.
Where GST is collected and or paid for a particular Tax Code you must select the appropriate General Ledger account to which Dealerlogic will allocate the tax. •GL Account for Tax Collected must be used to select the correct account for GST Collected and therefore payable. •GL Account for Tax Paid must be used to select the correct account for GST Paid and therefore receivable. •If applicable, the Dealerlogic Tax Code is used in relation to reconditioning items. Match the appropriate Dealerlogic Reconditioning Tax Code to the Dealerlogic Accounting Tax Code. •Click Save. |
N.B. A Tax Code must be linked to the BAS Report in order to appear on it. If you create a new Tax Code ensure you match it to the correct position on the BAS using the BAS Tax Codes function.
•Open the Tax Codes Window by clicking Tax Codes in the Logic Centre or under Setup in the Dealerlogic Menu. •Double click the Tax Code you wish to edit or highlight the Tax Code and click the Tax Details Tab at the top of the Tax Codes Window. •Make any required changes to the Tax Code Details. •Click Save. |
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•Click the edit button to the right of each field to add the applicable tax codes for that field. The Select Tax Codes window will appear. •From the available Tax Codes double click the applicable code for the corresponding heading (G1, G3, etc) or highlight the applicable code and click add. •Once you have selected all applicable codes for the corresponding heading, click Complete. •Repeat the steps above for the remaining headings. •Click Save when all headings have been completed |