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Wildwood Canada BusinessVision Help

HST

 

HST officially kicked in for Ontario on July 1, 2010.

There's actually not a whole lot for you to do within BusinessVision to implement HST. There are two main areas to pay attention to: selling (Customers and Order Entry), and buying (Accounts Payable and Purchase Orders).

There will be no BusinessVision program update for HST.
Additionally, pretty well any version of BusinessVision will handle HST. There is no need to upgrade to the latest version specifically to handle HST.

There are quite a few transition rules to keep in mind as well. For details on these, please consult your accountant or CRA.

Please feel free to contact Wildwood Canada for more information or assistance with your HST changeover.

 


 

Topics on this page

 


 

Set up a new Sales Tax Code for HST

First you must set up a new Sales Tax Code for HST.

1. This is done in Edit, Sales Taxes

2. Click on the "New" icon.

3. Enter an ID for the new tax. This will be a 4-ddigit number. Make it the next number after the current highest number you are using, or some other number if you wish.
In this example, I will use "0003".

PLEASE NOTE that your Sales Tax Codes may be different.
**ALSO NOTE that a separate HST Sales Tax Code is required for each province, as they have different rates.

By the way, this is a good opportunity to clean up your Sales Tax Codes if needed.

Fill out the fields as shown in this sample. Most people will post HST to the same GL Account as GST Collected, as these two taxes will be remitted together.

4. Click the "Save" icon to save the new Sales Tax code.

 


 

Accounts Payable & Purchase Order - system-wide setting

In BusinessVision the sales taxes for Purchasing and A/P are controlled by a system-wide setting for each BV Company. There are two Sales Tax Codes that are set in System Setup which govern what taxes are used for all A/P entries and PO's.

To change these two Sales Tax Codes...

1. Go to System Manager, System Setup. Everyone else must be out of BusinessVision.

 

2. Go to Company, Tax info

 

3. In the section, "Tax rates for P.O.'s and A/P" enter the new  Tax Codes as appropriate. In my example, it will be Tax Code 0003 for the "G.S.T.", and Tax Code 0000 for "P.S.T.".
Notice that the titles for each Tax Code won't change! But the actual codes show the description of the selected Sales Tax Code.

 

4. Click "Ok" to save your changes.

 


 

Accounts Payable - invoice entry

BusinessVision v7.3 (v2009) and later: When you enter a new invoice in Accounts Payable, you will notice that the Sales Tax labels have changed to reflect your changes in System Setup. You can override the Sales Tax amount, but not the Sales Tax Code.

BusinessVision v7.2 and earlier: When you enter a new invoice in Accounts Payable, you will notice that the Sales Tax labels have not changed! However, the Sales Tax Codes you set up in System Setup will be used.
You can enter a different amount in the "Other Amount" box as usual.

 


 

Purchase Orders

When you enter Purchase Orders, the Sales Taxes are shown under the "Order Details" tab. These are the codes that you set up in System Setup.
Unfortunately, you can't change the Sales Tax Codes, you can only exempt one or both by typing something into the "Exemption No." field.

 


 

Customers

Sales Tax codes are set in the "Taxes and Shipping" tab for each Customer. For "Sales tax 1" select the new HST Tax Code you created. Set "Sales tax 2" to 0000. Save your changes.

Don't forget that Sales Taxes reside with the Ship-To codes as well. If you use Ship-To codes, these must be changed as well.

 

Sage BusinessVision has released a convenient utility program that can change all your Customers' Tax Codes at once.

For your convenience, you may download this utility from the Wildwood Canada website HERE. You will require a username and password to do so. This would've been emailed to you in one of my recent newsletters.

To install and run this utility you will need to understand how to save files from the Internet, unzip the file, install the program, and then run it.

If you require assistance, please contact Wildwood Canada for assistance with this (Wildwood Canada clients only)

 


 

Order Entry

In Order Entry, the Sales Taxes default to those for the selected Customer and Ship-To. The Sales Taxes are under the "Taxes and Shipping" tab under the "Ship-To" tab. The Sales Taxes can be changed for each Sales Order.

 


 

Accounts Receivable - invoice entry

BusinessVision v7.3: When you enter a new invoice in Accounts Receivable, you will notice that the Sales Tax labels have changed to those set for the Customer you are working with. Only the amount can be overridden.

BusinessVision v7.2: When you enter a new invoice in Accounts Receivable, you will notice that the Sales Tax labels have changed to those set for the Customer you are working with. Only the amount can be overridden.

 


 

Special HST rules, considerations and exceptions

  • Transition Rules: There are special transition rules in effect that determine whether GST-PST or HST Sales Taxes must be charged on a particular sale during the periods preceding and after July 1st 2010.
  • ITC Recapture: If your sales are more than $10 million per year you may be subject to something called "ITC Recapture", which means you cannot claim 100% of the HST charged on your purchases for certain expenditures.

For more information on these and other HST issues, please see your accountant and/or attend one of the many free seminars being put on by CRA, accounting firms, and others.

 


 

Forms: Invoices, PO's, Quotes, etc.

In most cases no changes will need to be made to any of your forms that you print, such as invoices, PO's, Quotes, etc. This is because the Sales Tax names are set to automatically print correctly on the form for whatever Sales Taxes you are using. That is, unless some unusual modification has been made to your forms to override this.
BUT... your GST (soon-to-be "HST") number will still print at the bottom of your forms as a "GST Number". This is not critical, however will need to be changed at some point. To change this the actual form template needs to be changed. I suggest I change this for you the next time I visit you, or the next time you upgrade your BusinessVision.

If you are using pre-printed forms they will need to be changed. If you have a large stock of pre-printed forms, the BV form template can be modified to black out the existing descriptions and print the new one for HST. Please contact Wildwood Canada to have this done.

 
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