Calculating and Posting Taxes
Calculate self-assessments using Quantum Returns. You can calculate taxes manually by entering the taxable amounts from QAD reports, identifying the GeoCode of the inventory site, and looking up the consumer’s use tax rate for that GeoCode. At most, this would require one calculation per site.
Quantum Returns automatically recalculates taxes when preparing forms. Manually entered adjustments are included in recalculation of consumer’s use tax. Also, you can enter manual adjustments directly in Returns.
Enter the tax amounts from Quantum Returns using Journal Entry Create (126.96.36.199).