How to re-implementing PST in British Columbia (BC) as April 1st, 2013?
Sage 50 2013 Release 2 introduces new features to help the large number of BC customers convert easily from BC’s Harmonized Sales Tax (HST) to a combined GST and PST sales tax.
New company created in British Columbia on Sage 50—Canadian Edition Release 2 (if you have an existing company you can go to the next section on how to use the tax wizard)
When the new company wizard is used in Sage 50 2013 Release 2, the sales taxes setup reflect the new PST.
Example 1: Fiscal year start date on or after April 1, 2013: Sales Taxes:
Example 2: Fiscal year start date before April 1, 2013: Sales Taxes
BC PST Update Wizard
The ‘BC PST Update’ wizard appears for BC companies when the session date is March 1, 2013 or later. The wizard is also available from the Home window:
Note: The PST Payable account needs to be created in the Chart of Accounts before running the wizard.
How to use the BC PST Update Wizard:
1. If the wizard will be used to set up the taxes, select ‘I want to update my tax information now’ and click Next.
If the tax information will be updated manually, select ‘I will update the information myself’ and click Finish. (The wizard will close)
Note: If this option is selected, the BC PST Update wizard will appear again when the session date changes to April 1, 2013.
If the PST is already setup with the new rates or previous rates, select ‘I have already updated my tax information’ and click Finish. (The wizard will close)
2. If there is an existing PST tax in the company, select the tax under the ‘I have an existing PST tax’ option and click Next.
If no PST exists in the company, select ‘I want to create a new PST tax and any related tax codes’ and click Next.
3. Select the GST/HST tax from the dropdown menu and click Next.
4. The list of sales tax codes will be displayed. Click Next to continue.
5. Read the information about next steps to take and click Finish.
New PST Registration Numbers
Businesses will need to register for the PST. When they register, they will be assigned a new PST registration number. The old PST registration number will no longer be valid.
How to register?
Businesses can register online, in person at Service BC locations, by fax or by mail. Online registration will commence on January 2, 2013.
Format of PST Registration Number
The new PST numbers will be eleven characters long with the following format: PST-1234-5678.
Updating information in Sage 50
If the Sage 50 customer sells items or services to PST exempt businesses, their new PST numbers should be updated in the Taxes tab in the Customer Records.
Source: Sage Community forums.
Disclaimer: Sage Accounting Solution is an independent provider of Sage Related services and is not affiliated with Sage.
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