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New HST tax for Ontario and British Columbia: how will it affect your business?
On July 1, 2010, the retail sales tax will be replaced with a more modern, value-added tax that will be combined with the federal GST to create a harmonized sales tax (HST) for Ontario and British Columbia.
Now is a great time to start thinking and preparing for this tax change for your own business and software applications.
FileMaker Pro solutions that have an invoicing or financial component for instance, will need some modifications to support the new HST tax. Each system may be designed differently, but here are a couple of areas that may need some modifications when linked to QuickBooks:
• The FileMaker solutions may have to be modified to send the proper “tax code” to QuickBooks. Typically, the rates are maintained within the accounting application and it accepts taxable amounts and the appropriate tax codes from supporting solutions.
• QuickBooks tax setup information may also need to be changed to support the same tax code that is being sent from the FileMaker application and to reflect the new 13% rate.
At CoreSolutions, we have a lot of experience developing and maintaining FileMaker Pro systems that link to QuickBooks. If you require any assistance with your applications, please don’t hesitate to contact us.
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