To view/edit default trade tax settings for sales accounts:
Activate NewViews/Account/Sales in the NV2 Database Explorer.
Use the window tab Default Trade/Tax Info or window list button at the left of the title bar that reads /ACCOUNT/SALES to select the Default Trade/Tax Info window.
Make any changes required to the settings to suit then majority of sales items.
See Trade Tax Information for current rates.
| Sales Account Trade/Tax Information | |||
| | Line | Field | Description |
| | 1 | Price | This is the product sales price. The price can be overridden by the product or customer price table. |
| Tax 1,2 | 2,5 | Status | taxable - the tax will be charged. exempt - the tax will not be charged. empty - the journal Status is used. The sales journal has a corresponding setting for the status of each tax. But the setting on the sales account has higher priority than the journal so it provides the ability to override the journal setting on a product-by-product basis. |
| 3,6 | Rate | If this field is specified, the tax will be charged at this rate. If this field is empty then the journal tax rate is used. The setting on the sales account has higher priority than the journal so it provides the ability to override the journal setting on a product-by-product basis. See Trade Tax Information for current rates. | |
| 4,7 | Payable Account | If charged, the tax will be posted to the account selected here. This will often be a tax payable account. If this field is empty then the journal payable account for the tax is used. The setting on the sales account has higher priority than the journal so it provides the ability to override the journal setting on a product-by-product basis. | |
| | 8 | Inventory Account | The inventory account to be credited when items are sold out of inventory. Press <F3> to select the account from a select box. |
| | 9 | Cost of Goods Account | The cost of goods account to be debited when items are sold out of inventory. Press <F3> to select the account from a select box. |
Trade settings that have been set for parent sales accounts can be overridden for a specific sales account by changing the settings on the Trade/Tax Info view for that sales account.