For cash transactions created in the cash management subledger, the system records tax
amounts to the GL account specified for a particular tax on the GL
Accounts tab of the Taxes (TX205000) form, as shown in the
following table.Table 1. Tax Sales Cash Transaction
| Account |
Debit |
Credit |
| Checking account |
Amount + tax amount |
00.00 |
| Tax Payable account |
00.00 |
Tax amount |
| Sales account |
00.00 |
Amount |
If taxes are applied to a cash transaction of the Receipt or
Disbursement type, the system generates the following GL transactions.
Table 2. Receipt Cash Transaction
| Account |
Debit |
Credit |
| Cash account |
Amount + tax amount |
0.00 |
| Offset account |
0.00 |
Amount |
| Tax Payable account |
0.00 |
Tax amount |
Table 3. Disbursement Cash Transaction
| Account |
Debit |
Credit |
| Cash account |
0.00 |
Amount + tax amount |
| Offset account |
Amount |
0.00 |
| Tax Claimable account |
Tax amount |
0.00 |
