Tax Venues can be set up for all of the areas (venues) where you do work and/or purchase materials and services that are subject to tax.
Several tax options are supported for Tax Venues in RedTeam Flex.
Sales Tax: Used to apply Tax to Vendor Invoices
Value Added Tax (VAT): Excludes the amounts from Actual Cost in Vendor Invoices and adds the capability to manually enter tax due on your Billings to Customers.
Direct Tax Remittance (Sage 300): Option to collect and remit tax per Vendor Invoice.
Tax Venues can be used when creating Buyout Commitments (such as a PO) on a Project. They can also be set on the Customer Facility to be used by default on all new Projects associated with that Customer and Facility (can be changed per Project if necessary).
If a user has permission to do so, they can also add new Tax Venues at the moment of creating a Buyout Commitment.
In a venue that uses Value Added Tax, such as Texas or Canada, you will be collecting tax from your customer. Tax Venues for VAT are tracked separately from taxes for buyout commitments in the configuration and must be set up with their own venues. They will also be available to use in a Project proposal to a customer
Once they are added as a new Tax Venue, the "Value Added Tax" option must be selected. Enter the appropriate Tax Authority (who you remit to) and Tax Payer ID (}. If a venue is not marked as a Value Added Tax, it will not be available as a VAT option.
To view specific instructions on setting up tax venues based on the type of tax and active integrations, click on the appropriate button below.
Tax Venue Setup Table:
Integration | Sales Tax | Value Added Tax | Direct Tax Remittance |
No Integration |
|
| N/A |
QuickBooks Online |
|
| N/A |
Sage 300 |
|
|
|
Sage 100 |
|
| N/A |
Sage Intacct |
|
| N/A |
Acumatica |
|
| N/A |
Add Tax Venue for Sales Tax with no integrations active
Follow the steps below to create a Sales Tax Venue when no integration active.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
Click "Save"
Create Tax Venue for Value Added Tax with no integrations
Follow the steps below to create a Value Added Tax Venue when no integrations are active.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select "Value Added Tax" and enter the description, rate, Tax Authority, and Tax Payer ID.
Click "Save" to complete the creation of the Tax Venue
Add Tax Venue for Sales Tax with QuickBooks Online
Follow the steps below to create a Sales Tax Venue when the QuickBooks Online integration is active.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Then enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
Click "Save"
Create Tax Venue for Value Added Tax with QuickBooks Online integration is active
Valued Added Tax requires mapping of the Tax Venue to either:
Current Asset Account: Manual tax collection and remittance
or
QuickBooks Tax Venue: Used when QuickBooks sales tax management features are active.
Follow the steps below to create a Value Added Tax Venue when the QuickBooks Online integration is active.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select "Value Added Tax" and enter the description, rate, Tax Authority, and Tax Payer ID.
Select either "Post tax billings to this Current Asset Account" or "Link to Tax Profile in QuickBooks" and select the appropriate account or tax profile to be used.
Click "Save" to complete the creation of the Tax Venue
Add Tax Venue for Sales Tax with Sage 300 integration
Follow the steps below to create a Sales Tax Venue with an active Sage 300 integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
The Tax Group option allows the Tax Venue to be mapped to a Current Asset or Liability account to send Tax to Sage. Code is filled in automatically based on what is selected for Tax Group.
Click "Save"
Create Tax Venue for Direct Tax Remittance with Sage 300 integration
Follow the steps below to create a Direct Tax Remittance Venue to be used with an active Sage 300.
Please contact us if you would like the direct tax remittance feature enabled in your database.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select Direct Tax Remittance. Enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
Select the Account and Tax Group that you want to map the Tax Venue to as a Current Asset or Liability Account in order to optionally collect and remit tax per Vendor Invoice.
Enter Tax Authority and Tax Payer ID, if applicable.
Click "Save" to complete the creation of the Tax Venue
Create Tax Venue for Value Added Tax with Sage 300 integration
Follow the steps below to create a Value Added Tax Venue with an active Sage 300 integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select "Value Added Tax" and enter the description and Rate.
Select Account and Tax Group to map the Tax Venue to as a Current Asset or Liability Account in order to manually enter tax due on your Billings to Customers.
(Optional) Add Tax Authority and Tax Payer ID, if applicable.
Click "Save" to complete the creation of the Tax Venue
Add Tax Venue for Sales Tax with Sage 100 integration
Follow the steps below to create a Sales Tax Venue with an active Sage 100 integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
The Tax District option allows the Tax Venue to be mapped to a Current Asset or Liability account to send Tax to Sage. Code is filled in automatically based on what is selected for Tax Group.
Click "Save"
Create Tax Venue for Value Added Tax with Sage 100 integration
Follow the steps below to create a Value Added Tax Venue with an active Sage 100 integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select "Value Added Tax" and enter the description and Rate.
Select Tax District to map the Tax Venue to as a Current Asset or Liability Account in order to manually enter tax due on your Billings to Customers. Code is selected automatically by the Tax District selected.
(Optional) Add Tax Authority and Tax Payer ID, if applicable.
Click "Save" to complete the creation of the Tax Venue
Add Tax Venue for Sales Tax with Sage Intacct integration
Follow the steps below to create a Sales Tax Venue with an active Sage Intacct integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
The Tax Group option allows the Tax Venue to be mapped to a Current Asset or Liability account to send Tax to Sage. Code is filled in automatically based on what is selected for Tax Group.
Click "Save"
Create Tax Venue for Value Added Tax with Sage Intacct integration
Follow the steps below to create a Value Added Tax Venue with an active Sage Intacct integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select "Value Added Tax" and enter the description and Rate.
Select Tax Group to map the Tax Venue to as a Current Asset or Liability Account in order to manually enter tax due on your Billings to Customers. Code is selected automatically by the Tax District selected.
(Optional) Add Tax Authority and Tax Payer ID, if applicable.
Click "Save" to complete the creation of the Tax Venue
Add Tax Venue for Sales Tax with Acumatica integration
Follow the steps below to create a Sales Tax Venue with an active Acumatica integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Enter a Description for the Tax Venue (i.e. state, county, municipality) and the Rate (4% = 4).
The Tax Category, Tax, and Tax Zone are optional fields that can be mapped from the Tax Venue. Code is entered automatically based on what is selected for the other fields.
Click "Save"
Create Tax Venue for Value Added Tax with Acumatica integration
Follow the steps below to create a Value Added Tax Venue with an active Acumatica integration.
Steps:
From the Configuration menu, click "Tax Venues" (under the heading: Accounting)
Click the New (+) icon
Select "Value Added Tax" and enter the description and Rate.
The Tax Category, Tax, and Tax Zone are optional fields that can be mapped from the Tax Venue. Code is entered automatically based on what is selected for the other fields.
(Optional) Add Tax Authority and Tax Payer ID, if applicable.
Click "Save" to complete the creation of the Tax Venue
