SBT PRO 6.0 Tax Table Handling

This month’s topic is tax tables. Each year about this time I start seeing complaints all over the newsgroups and forums about tax updates. Virtually every accounting package does them. Quickbooks seems to generate the most heat as the annual update costs about ½ as much as the program and is required. Software companies do this as a way of generating revenue. Actually it isn’t to bad of a deal as the time involved in putting new tax tables in can be extensive. Errors can be even more expensive. However, I am frequently asked is there a manual way to do these things. For products like Peachtree and ACCPAC/SBT PRO the answer is yes.

PRO is relatively easy to use when entering tables. Enter the Payroll area and select Taxes, Tax Table.

You are now ready to begin the edit.

The first step is to select the Tax ID you wish. You can either type it in or use the magnifying glass button to find it. Once the tax is selected select the Table ID in the same way. You can use the FWD (Forward) and BACK buttons to move between tables. The Delete button is really only of use when first setting up as tables rarely go away. The Edit button is the one you normally need to use. With this you can change the base income, tax on base income, and the tax rate over base income. Just use the arrows to select the rate you wish to change.

The filling status area which may be reached either from the menu or from the list box that shows Filing Status in the example lets you enter things such as Standard Deduction, Personal Exemptions, and Dependent Exemption. These items are important as they often change.