The Tax Rate module, located in the Accounting group, allows for tax rates to be created and modified. If sales tax is enabled in the Tax Rate module options, these tax rate options will appear on each sales order.
Add a tax rate
Choose the Accounting Module Group | Tax Rate Module. Click the New button on the module toolbar. A new blank Tax Rate will be displayed beneath the General Tab on the Main Screen.
Enter the Name, Description, Tax Type, and Tax Agency. You may also choose whether this tax rate is default or not. When choosing your Tax Agency, select the appropriate one from the drop down list. The list is populated by your list of Vendors. If your tax agency is not listed, you may add a new one by choosing <Add New> from the drop down menu. Once a Tax Agency is added to Fishbowl, they cannot be deleted. If you wish to remove a tax agency you may inactivate them, which will eliminate this agency from most searches.
Click the Save button on the module toolbar.
Tax rates can also be created using a CSV Import.
Sales tax group
Sales tax groups can be created in QuickBooks to group together multiple tax rates. If the tax rate name in Fishbowl matches the sales tax group name in QuickBooks, the tax will be automatically separated in QuickBooks.
- Create a sales tax group in QuickBooks by selecting Edit > Preferences > Sales Tax > Company Preferences > Add sales tax item > Sales Tax Group.
- Create a tax rate in Fishbowl with the same name and combined percentage.
- The combined tax rate can now be used in Fishbowl.
- When the order is exported to QuickBooks, the tax rate will be separated for reporting.
Add a tax agency
Tax Agencies can be chosen from the list of Vendors in Fishbowl. To create a new tax agency type the name of the new tax agency in the Tax Agency field and then select Add New from the dropdown. A new tax agency can also be created by opening the Vendor module and clicking the New button in the module toolbar.
The New Vendor Wizard will appear. This wizard can also be launched directly from the Tax Rate module by typing the name of the new agency in the Tax Agency field and choosing Add New.
In the Vendor Name field enter the Tax Agency name and then click Next. On the following screen enter the address information for the vendor and click Next. [optional] Enter the tax agency's contact name, main number, fax number, and e-mail address in this screen. Click Next.
The following screen asks for information about shipping terms. As they don't apply to Tax Agencies, leave the defaults and click Finish.
Edit, delete, or inactivate a tax rate
- To edit a tax rate, double-click the tax rate in the search pane, make any changes, and then click the Save button located in the module toolbar.
- To delete a tax rate, double-click the tax rate in the search pane and then click the Delete button located in the module toolbar.
- A tax rate cannot be deleted if it is in use by other modules. In this case, a tax rate can be inactivated by unchecking the Active checkbox and then clicking the Save button in the module toolbar. To view an inactive tax rate, select Inactive in the Status dropdown of the search pane.
Track sales tax
Sales Tax can be turned on and off in the Tax Rate module options.
Some aspects of the Tax Rate module can be customized by opening the module, clicking the Tools menu, and then selecting Module Options.
- Do you charge Sales Tax?
- This option allows Sales Tax to be turned on or off. The Fishbowl Client must be restarted for this change to be fully applied.
- Default Flat Tax
- This option allows a default flat rate tax to be set for shopping cart imports.