On the ribbon, go to Tools > Setups > Accounting.
The Tax Code grid allows you to allocate an alpha value to the various tax codes that apply to stock. When adding stock, you need only add the appropriate tax code, and the tax paid stock prices will be automatically calculated from the tax free prices.
In the setup grid, there are five fields that need to be filled out for each tax value. They are:
Field |
Explanation |
|---|---|
Code |
Allocate a unique alpha code for each tax type. |
Percent % |
The percentage value of the tax. |
Type |
Select a tax type from the drop-down list – these relate to BAS fields. |
Description |
Add a description of the tax (up to 30 characters). |
GST Sales and GST Purchase |
Indicates where in the GST worksheet these values will be entered (auto-filled by Jim2). |
Active (tick box) |
Whether the tax code is active and available for use. |
 |
Once a tax code is used, it cannot be altered or deleted – you can only remove the Active tick to make it inactive. By making a tax code inactive, it is no longer available for use from that point onwards. If that code has been used previously it still applies within historical records. Should you need to, you can re-enable it at a later date. |
GST – BAS and Jim2
This is a table showing the tax types, and where they fit in the BAS. The tax types you set up and use in Jim2 are vital to the formation of the BAS Report.
Code |
Type |
BAS Field |
|---|---|---|
C |
Capital Acquisition |
G10 |
E |
Export Sales |
G2 |
F |
GST Lump Sum Deferred |
7A/G11 |
G |
GST Inclusive |
G1/G11 |
I |
Input Taxes |
G4/G13 |
L |
Luxury Car Tax |
E1/F1 |
N |
GST Free |
G3/G14 |
P |
PAYG Total |
W1 |
Q |
PAYG Tax Amount |
W2 |
R |
Capital for Private Use |
G15 |
V |
Non-Capital for Private Use |
G15 |
W |
Withholding (No ABN on Vend Invoice) |
G14/W4 |
X |
Exclude from GST Reports |
N/A. This is the code you should use when making payments to the ATO. |
Y |
GST Lump Sum |
G11 |
Z |
Lump Sum Capital Acquisitions |
G10 |
See the GST Sessions and the BAS section for more information.
 |
Please ensure you fully understand the GST requirements and the Jim2 tax types (setups and use) prior to using Jim2. |
Further information:
Multiple Tax Codes in Kitted Stock
Canada Regional Settings (for information specific to Canada)