Adding Vendors (3)
Taxes
On the Taxes tab, you enter information in these fields:
Tax. This column lists all the taxes that you have set up for this company; it does not represent the taxes assigned to the tax code described later. You cannot edit this field.
Tax Exempt. This column specifies whether purchases from this vendor are exempt from the selected tax. Click this field to set to Yes or No as follows:
- If purchases are tax-exempt (that is, the tax is not to be charged on purchases), set to Yes.
- If purchases are not tax-exempt (that is, the tax is to be charged on purchases), set to No.
Tax Code. Enter the tax code that you normally use for this vendor. When you enter an item on a purchase invoice, order or quote for this vendor, Simply Accounting will automatically charge the taxes defined by the tax code. However, you can exclude some or all of the taxes by editing the Tax Exempt column, described previously.
Statistics Complete the following fields on the Statistics tab:
Year-to-Date Purchases, Last Year’s Purchases. Enter this information, if available.
Payments for 2005, Payments for 2004. Note that the fields for Payments For 2005 and Payments For 2004 refer to the current year and the previous year, respectively. Enter these amounts manually if you need to include payments to this vendor that were not made using Simply Accounting. Normally, you do not need to enter these amounts manually.
Recalculate. You can replace an amount you entered for the year by clicking the Recalculate button. Simply Accounting totals the payments recorded for the vendor.
Taken From : Simply Accounting
