|
How to Calculate Sales Tax to Pay:
Run the Revenue by Sales Tax Area report from Receivables. You should get something like the example below. Take the figures on the Sales Tax File line to figure out how to calculate how much tax is owed against that Taxable area. Follow the formula given below for your calculations.
| Patient Name |
Account # |
invoice # |
Date |
Quantity |
Billed |
Sales Tax |
Non-Allowed |
Adjustment |
Payments |
| ============ |
============ |
============ |
============ |
============ |
============ |
============ |
============ |
============ |
============ |
| Brooks, Garth |
980004 |
960006 |
02/17/98 |
488.00 |
607.60 |
47.60 |
187.60 |
-10.00 |
410.00 |
| Cleaver, June |
980003 |
980007 |
02/17/98 |
6.00 |
217.00 |
17.00 |
67.00 |
0.00 |
150.00 |
| German, Heidi |
980001 |
980008 |
02/17/98 |
10.00 |
217.00 |
17.00 |
117.00 |
-2.00 |
98.00 |
| Lennon, John |
980002 |
980009 |
02/17/98 |
7.00 |
217.00 |
17.00 |
117.00 |
0.00 |
100.00 |
|
|
|
|
============= |
============ |
============ |
=========== |
============ |
============= |
|
Sales Tax File |
: TN |
Taxable: Y |
511 |
1,258.60 |
98.60 |
488.60 |
-12.00 |
758.00 |
|
|
|
|
|
|
|
|
|
|
| Total for Sales |
for Tax Table |
: TN |
|
511 |
1,258.60 |
98.60 |
488.60 |
-12.00 |
758.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Grand Totals: |
|
|
511 |
1,258.60 |
98.60 |
488.60 |
-12.00 |
758.00 |
|
|
|
|
|
|
|
|
|
|
NOTE:
If your tax is based on payments instead of charges, substitute the amount from Payments instead of the amount
Billed
|
Formula: |
|
Calculated from Figures Above: |
|
|
|
|
|
Billed |
|
$1258.60 |
| - |
Non-Allowed |
- |
$488.60 |
| +/- |
Adjustments |
- |
$12.00 |
| ---------------------- |
------------------------- |
----------------------- |
-------------------- |
| = |
Gross Amount |
= |
$758.00 |
|
|
|
|
|
|
|
|
|
Gross Month |
|
$758.00 |
| / |
1+ Sales Tax % |
/ |
1.085 (TN sales tax is 8.5%) |
| --------------------- |
-------------------------- |
----------------------- |
-------------------- |
| = |
Net Month |
= |
$698.62 |
|
|
|
|
|
|
|
|
|
Net Month |
|
$698.62 |
| * |
Sales Tax % |
* |
.085 (TN Sales tax is 8.5%) |
| -------------------- |
-------------------------- |
------------------------- |
-------------------- |
| = |
Sales Tax Owed |
= |
$59.38 |
|
