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Tax Ledger Entry

Updated
Applies toSales Setup AudienceAll users Last updatedSeptember 29, 2025

In order to generate the Sales Tax by Tax Jurisdiction report in GoldFinch, you need to enable Tax Ledger Entry. This feature ensures that the system tracks the sales tax data necessary for reporting by jurisdiction.

Steps to Turn on Tax Ledger Entry

Refer to Managing GoldFinch Custom Settings to configure a new custom setting:

  • Name: EnableTaxEntry

  • Value: True

This will enable the creation of tax ledger entries when processing sales transactions.


Running the Sales Tax by Tax Jurisdiction Report

  • Post Sales Invoices:

    • When you post sales invoices, GoldFinch will automatically create Tax Ledger Entries. These entries store the sales tax information by jurisdiction for reporting purposes.

  • Generate the Report:

    • Once the Tax Ledger Entries are created, you can run the Sales Tax by Tax Jurisdiction report to review and manage your sales tax liabilities across different jurisdictions.


Tax Ledger Entry Field Descriptions

Field Name

Field Help

Sales Amount

The total line amount on the sales invoice line, representing the full price of the item or service sold.

Exemption Amount

If Tax Liable is checked on the sales invoice, the Exemption Amount is 0. If Tax Liable is not checked, the Exemption Amount equals the Sales Amount (the item is tax-exempt).

Exclusion Amount

By default, this amount is 0. If your business only collects sales tax up to a specific amount per sales invoice, a custom trigger can be implemented to calculate the Exclusion Amount (contact a GoldFinch consultant for assistance).

Taxable Amount

The Taxable Amount is calculated as the Sales Amount minus the Exemption Amount and the Exclusion Amount. This value is used to calculate sales tax for each jurisdiction.

By enabling Tax Ledger Entry, you ensure that your system is properly set up to track and report sales tax across multiple jurisdictions, providing you with detailed insights into your tax obligations

Article Tax-Ledger-Entry  ·  Last updated September 29, 2025 · GoldFinch ERP Help Center

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