If Misc. Tax field is used for more than one tax type (for example, both state and county taxes), exporting the Tax History Report to a csv is a viable option to determine the breakdown.
Accounting > File > Month End > Tax Reports > Print Tax History.
- Enter Beginning and Ending Month
- Tag Stores
- Check the box OUTPUT CSV TO
- Enter name for file.
- The ellipsis can be clicked to alter the file location.
- Name of the file can be personalized, however the .csv MUST be included at the end of the name.
Find the newly created CSV file and open it.
NOTE: This following is merely one suggestion to alter the file, as needed. Other options may be available. RFMS help desk does not support Microsoft Excel or any other spreadsheet program. For Microsoft assistance, click https://support.office.com/en-us/excel
The snippet of the spreadsheet below illustrates an unedited export of the information. Misc Tax Base, Misc Tax Collected, and Misc Tax Est Due are the columns that will be reviewed.
To separate the combined misc. taxes, three new columns will be inserted:
- Tax 1 (example state)
- Tax 2 (example county)
- Total (for checks and balances to ensure formula is correct)
The formulas created in the example above are calculated based on the Misc. Tax Base column – Column L
- MISC 1 Formula Used in cell P2 to calculate 7% tax: =L2*.07
- MISC 2 Formula Used in cell Q2 to calculate 3% tax: =L2*.03
- MISC TOTAL Formula used in cell O2 to compare total of P2+Q2 to N2: =P2+Q2
Comments
Please sign in to leave a comment.