Sheet 1: Instructions

	
	
	
	
	
	

		
Instructions to Account for and Report Ohio Sales Tax
		


		


		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		
Accounting for the collection and payment of sales tax in the General Ledger
		


		


		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		


		
Type of Sale
		
GL Journal Entry Panel
		
GL Accounts
		


		


		


		


		


		


		


	
	

		


		
Cash Sales
		
Deposit
		
Revenue: 42000
		


		


		


		


		


		


		


	
	

		


		


		


		
Sales Tax Payable: 20500
		


		


		


		


		


		


		


	
	

		


		
Credit Sales
		
General
		
Revenue: 42000
		


		


		


		


		


		


		


	
	

		


		


		


		
Sales Tax Payable: 20500
		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		
Completing the Report Form
		


		


		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		


		
Field
		
Information to Enter
		


		


		


		


		


		


		


		


	
	

		


		
Department Name
		
Name of the department making the sale
		


		


		


		


		


		


		


		


	
	

		


		
Worktags
		
FDM Worktags where the sales tax was deposited.  The account will always be 20500.
		


		


		


		


		


		


		


		


	
	

		


		
Month/County/Rate
		
Enter the month in which the sales were made and the county where the sale occurred.  When the county is entered 
		


		


		


		


		


		


		


		


	
	

		


		


		
the tax rate for that county will automatically fill in.
		


		


		


		


		


		


		


		


	
	

		


		
Sales Information
		
Enter the gross amount of the total sales made by the department and any sales that were exempt from tax in the exempt 
		


		


		


		


		


		


		


		


	
	

		


		


		
box.  The Net amount will automatically calculate.  For all exempt sales an exemption form must be kept on file.
		


		


		


		


		


		


		


		


	
	

		


		
Tax
		
The Liability column will automatically calculate the tax rate multiplied by the Net Sales.  Enter in the amount actually 
		


		


		


		


		


		


		


		


	
	

		


		


		
collected by the department in the Collected column.  This amount should equal the liability column.  If they do not 
		


		


		


		


		


		


		


		


	
	

		


		


		
match the higher amount will be paid to the Ohio Department of Taxation.
		


		


		


		


		


		


		


		


	
	

		


		
Adjustments
		
Please explain why the amounts entered as collected do not match the liability due.  
		


		


		


		


		


		


		


		


	
	

		


		


		
For example - refunds made for prior sales, calculating errors, etc.
		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		


		
Form is due by the 15th of the month following the month of the sale.  Remit the form to the Tax Office at the address below.  Keep a copy
		


		


		


		


		


		


		


		


		


	
	

		


		
on file in your department.  The copies need to be kept on file for at least four years.
		


		


		


		


		


		


		


		


		


	
	

		


		
salestax@osu.edu 
		


		


		


		


		


		


		


		


		


	
	

		


		
B&F - Tax Office
		


		


		


		


		


		


		


		


		


	
	

		


		
2020 Blankenship Hall
		


		


		


		


		


		


		


		


		


	
	

		


		
901 Woody Hayes Drive
		


		


		


		


		


		


		


		


		


	
	

		


		
Columbus, OH 43210
		


		


		


		


		


		


		


		


		


	
	

		


		
phone: (614) 292-6220
		


		


		


		


		


		


		


		


		


	
	

		


		
fax: (614) 688-3572
		


		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		
What happens next:
		


		


		


		


		


		


		


		


		


		


	
	

		


		


		


		


		


		


		


		


		


		


		


	
	

		


		
The Tax Office collects all of the separate forms from each department and totals the amounts.  A journal entry is completed to move the
		


		


		


		


		


		


		


		


		


	
	

		


		
amounts from each departments' account to a general sales tax account.  A monthly sales tax return is then completed on behalf of the
		


		


		


		


		


		


		


		


		


	
	

		


		
entire University.  The total sales tax is paid by ACH over to the Ohio Department of Taxation on or before the 23rd of each month.