Quick Reference

Tax Agencies


A Tax Agency is a vendor to which you pay the sales tax that you collect. Depending on your sales tax requirements, you may need to set up only one tax agency or you may need to set up several different ones. Click on this link for tax agencies in the USA.  IRS Tax Agencies
 

How to add a Tax Agency:

  • From ZarMoney homepage, hover over Company and from the drop down menu and select Sales Taxes.



  
  • Fill out each box accordingly. Don't forget to save your changes.





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Tax Items


When you first set up sales tax in ZarMoney you added all of the taxable sales items that you needed for your business. As your business grows, additional sales tax items may need to be added.  To view the Tax Item rates for your area, click on this link: Sales Tax Rates

 

Adding a Tax Item:

  • From the ZarMoney homepage, hover over Company. From the drop down menu select Sales Taxes.



  •  Click on Tax Items. This page shows which Tax Items your business currently has. To add a new tax item click Add a new Tax Item.




  • Fill out each box accordingly. Make sure you know the current Tax Rate for the item being added. Click Add New to save changes.



  • The new Tax Item is now shown. 
  • To edit a Tax Item, click on the Pencil icon located to the left of the Tax Item you want to edit.
  • To delete a Tax Item, click on the Trashcan icon located to the right of the Tax Item you want to delete. 



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Tax Groups


Use Tax Groups to calculate and individually track two or more taxable sales items that apply to the same sale. The customer will only see the total sales tax. For example, you might be required to charge a 6% sales tax for the state and a 2.5% sales tax for the county where you do business. If you are paying multiple agencies, rather than making one payment that will be split by the principal agency, you can group these two sales tax rates together and charge one rate of 8.5%.


To add a new Tax Group:

  • From ZarMoney homepage, hover over Company. From the drop down menu select Sales Taxes.




  • Click Tax Groups. This page shows the Tax Groups your company currently has. To add a new Tax Group, click Add a new Tax Group.




  • Fill out each box accordingly. Click Add New when finished.




  • The new Tax Group is now shown.
  • To edit a Tax Group, click on the Pencil icon located to the left of the Tax Group you want to edit.
  • To delete a Tax Group, click on the Trashcan icon located to the right of the Tax Group you want to delete.




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Tax Types


Tax Types list the taxable sales codes that are used to track taxable and non-taxable sales. This is done by assigning taxable sales codes to your customers and the items and services you sell. 


How to add a new Tax Type:

  • From the ZarMoney homepage, hover over Company. From the drop down menu select Sales Taxes.



  • Click on Tax Types. Fill out each box accordingly. Click Add New to save changes. 




  • The new Tax Type is now shown. 
  • To edit a Tax Type, click on the Pencil icon located to the left of the Tax Type you want to edit.
  • To delete a Tax Type, click on the Trashcan icon located to the right of the Tax Type you want to delete. 




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Pay Sales Tax


In order to pay sales taxes, utilize the Pay Sales Tax feature located in Company under Sales Taxes.  It will show the currently owed sales tax for the taxable sales items the company uses. If sales tax for more than one tax district (county, city, state) is collected, each district has its own line and amount owed (if applicable). 


To Pay Sales Tax:

  • From the ZarMoney home page, hover over Company and from the drop down menu select Sales Taxes.




  • Select Pay Sales Tax.



  • This page reflects which sales taxes have been paid. If paying by check (shown in this example), select Print Checks to process the transaction. 



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Sales Tax Adjustment


Occasionally businesses need to make a Sales Tax Adjustment for a variety of reasons. 


To make a Sales Tax Adjustment:


  • From ZarMoney homepage, hover over Company and from the drop down menu select Sales Taxes.



  •  Select Sales Tax Adjustment. Make any necessary adjustments and after all changes have been made, select Adjust Taxes.


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Sales Tax Liability


This report summarizes your Sales Tax Liability (the sales tax you've collected and currently owe to your tax agencies). This report can be customized on the basis of accrual or cash. It can also be customized by a certain time period. This report can be exported to .csv for your convenience.


  • From ZarMoney homepage, hover over Company and from the drop down menu and select Sales Taxes. Select Sales Tax Liability.


 


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