NEW TAX Structure for BC Liquor
Steps (all suppliers):
1. Make sure all your March invoices are entered before making any tax changes.
2. Go to File>preferences>tax groups
3. Delete the liquor tax code (usually LI or HS) It will be the code with GST and Lic disc checked
4. Click yes when it tells you it is attached to a bunch of items.
5. You are now ready to enter Aprils invoices.
6. When you enter your invoices you will need to change the prices on each item to the new price.
7. For GST and bottle deposit: go to taxes and adjustments, add, gst and enter your total gst amount only on the amount on invoice space. Same for bottle deposit.
The LDB has really messed their invoices up!! It still shows lic discount (irrelevant) and the Math is all wrong. Here is a one item purchase example and what you do in Optimum:
Andres Baby Sparkling (yum) EA 12 $6.09 Value $84.00
(Okay, first 12*6.09 does not equal $84, $84 includes the old lisc discount! Ignore the value column)
This leads to rounding errors. To add or subtract the few pennies difference go to the expense tab, click add, beer, wine or liquor account depending on what you have purchased, O/S in description and put in the pennies plus or minus.
Bless their hearts, BDL has included GST in the list price of each product. For now, simply take the price of the item and divide by 1.05 and that is the price to put in Optimum.
When we figure out if this is going to be permanent we will post how to add a tax code to automatically take out the tax as before for discount and gst.