Checking your Tax Coding
When you enter a transaction in MoneyWorks, the tax code (and hence rate) is automatically derived from the general ledger account used, or from the customer/supplier. You can over-ride this tax code during transaction entry.
To check the tax codes used in transactions, run the Tax Coding report (in the Audit section of reports). This lists all transaction detail lines sorted by tax code (and summarised by currency, if any) for the nominated period range.
The Tax Coding report can also be run for just a selected tax code. Thus, for example, if you are required to pay a USE tax, the report can be used to quickly identify the transactions and the total upon which the tax will be based.