The Tax Accounts settings in BQE CORE allow you to assign default general ledger (GL) accounts for tracking tax liabilities associated with services and expenses. These accounts are used when taxes are applied to transactions such as vendor bills, purchase orders, or other expense-related entries.
Field Descriptions
Field Name
Field Description
Settings > Accounting > Tax Accounts >
Tax accounts are balance sheet accounts and so you can view the ledger for them.
The default account you want to set for MST payable in CORE. All the transactions involving MST will be posted to this current liability account, unless overwritten.
The default account you want to set for MET payable in CORE. All the transactions involving MET will be posted to this current liability account, unless overwritten.
The default account you want to set for the service tax payable in CORE. All the transactions involving item service tax (Tax 1/2/3) will be posted to this current liability account, unless overwritten.
The default account you want to set for the service tax payable in CORE. All the transactions involving item service tax (Tax 1/2/3) will be posted to this current liability account, unless overwritten.