Q: I’ve been a Moneyworks user for 4 years, but I haven’t had a problem until now. Manitoba has increased their PST and I would like some assistance
Assuming your Sales taxes were not modified from the original setup, you had a PST tax at 7%, a GST tax code at 5% and a combination T code that equalled 12%.
To update open the Tax Rates window [Red Arrow] (located under the show menu at the top of the screen), Double Click the P code [Purple Arrow} or highlight as shown and click the Modify icon [Orange Arrow] and the Tax Code Window opens > Set the changeover date to July 1, 2013 [Green] and change Rate 2 to 8% an click OK
The Tax Rate window will look like so showing 13% for the T code….
However all current and cute transactions dated before July 1, 2013 will be calculated using Rate 1 or the combo 12% and all transactions dated July 1, 2013 or later will be at the new rate.