In some instances you may find that you would like to record the sales tax paid on your inventory purchases as part of the cost of inventory (consult your tax advisor on whether this applies to you).
Here’s how to do it in Sage 100 ERP fka MAS90 or MAS200:
- Open Library Master / Common and select Sales Tax Code Maintenance.
- Review the warning message and click ‘OK’.
- Select the desired Tax Code from the lookup or enter a new code if needed.
- Select the checkbox next to ‘Expense to Vendor/Item’.
- Select the Line for tax class TX.
- Make sure the ‘Purchases’ ox is checked.
- Confirm that the ‘Tax Rate’ is greater than 0.00.
- Set the Non-Recoverable % to 100.00%
- Click ‘OK’
- Repeat for all tax codes needed.