A unique code defining the location in which the sale is made. It is possible your company has several locations all with different sales tax rates. To keep track of the different rates and locations, use as many locality codes as needed.
Name of Locality
The full name of the locality code you typed in the previous field.
Enter the sales tax percentage or rate applicable to the locality entered in the previous field. The format for entering this value is to enter the tax rate as a percentage. Example; .078 would be entered as 7.8.
Sales Tax Accrual Account
Enter the account number from the general ledger chart of accounts which represents the liability for collected sales taxes. As sales tax is charged by the Accounts Receivable System, the sales tax amount will be accumulated into this General Ledger account. Again, if you have several locations, although it is not necessary, you may wish to give each location its very own general ledger account number.