iTracer lets you exempt selected transactions from sales tax estimation. You can exempt transactions by:
- Account
- Merchant
- MCC
- Individual transaction
Examples for exempting selected transactions from sales tax estimation include contribution to charitable organizations, transactions with government agencies, or transactions with tax exempt organizations.
Marking an account, merchant, MCC, or transaction tax exempt zeroes any sales tax previously associated with a transaction and excludes those transactions, in the selected date range, from sales tax estimation.
Exempting an account from sales tax estimation
To exempt all transactions for an account from sales tax estimation, select Account from the Sales Tax Estimation View drop down box.
Exempting an MCC from sales tax estimation
To exempt all transactions associated with a specific MCC from sales tax estimation, select MCC from the Sales Tax Estimation View drop down box.
Then check the Exempt box to the right of each MCC.
Exempting a merchant from sales tax estimation
To exempt all transactions with a specific merchant, select Merchant from the Sales Tax Estimation View drop down box.
To exempt an individual transaction from sales tax estimation
To exempt individual transactions from sales tax estimation, select Transaction from the Sales Tax Estimation View drop down box.
Once you've identified all transactions that you want to exempt from sales tax estimation, you're ready to apply tax rates from the Sales Tax Rate Table.
