Hey all,
I'm new to BC (BC version 22 currently) and doing an implementation for my own company (which is just me). Yes, I'm implementing an ERP for a 1-person company 😉. Why? A combo of I needed a new finance system, but I also want to learn BC from a professional perspective. To that end, I'm working through the MS Learn Learning Paths and doing setup and config in my environment accordingly. Because nothing beats hands-on learning, right?
So, with that preamble out of the way, I'm looking for some help to understand setting up the tax system and the MS Learn content is somewhat out of date so its proving a bit more challenging. I'm located in Canada so I need to setup for VAT (GST, PST, HST). My understanding from the Learn material is that I need to setup the intersection of the Business and Product Posting groups. But I'm unclear as to how many of these I need to setup, and what I should be creating/choosing for the different field values. What I have so far:
I don't know if I need the /BC PST/ entry, or if I need similar entries for the other provincial taxes like HST in Ontario and New Brunswick and such. I also don't clearly understand what these fields should have as values:
Tax Identifier, what should go here?
Tax Calculation Type, I don’t understand the difference between “normal” and “full”?
Unrealized tax Type, which should I choose for each record?
Tax Clause Code, what should go here?
Tax Category Code, what should go here?
Sales and Purchases FastTabs, do I need to select accounts here? What if I don’t populate these?
Thanks very much!
