1. Guide To Reconcile Sales Tax Updated September 2014
Contact Information: Controller’s Office
General Accounting Area
Tel:

2. Objectives of This Presentation
Inform users about the Florida sales tax calculation
Discuss the steps involved to submit the monthly sales tax reconciliation to the
Controller’s Office
Review exempt sales and corrections
Follow instructions on preparing to be sent to the Controller’s Office and keeping backup documentation in the departments

3. Sales tax topics Florida Sales Tax Rates Calculating Sales Tax
Sales Tax Brackets
Sales tax topics

4. Florida Sales Tax Rates
The sales tax rate for Miami-Dade county is currently 7%. This rate is comprised of two components – the State “base rate” of 6%, and Miami-Dade county’s “surtax rate” of 1%.
See the link below for surtax rates by county as well a detailed explanation of surtaxes and their applicability.
Go to to get to the Florida Department of Revenue Discretionary Sales Surtax section
Download Form Number DR-15DSS which takes you to information for the current calendar year
Note that UM out of state sales are tax exempt

5. Sales Tax Calculation
In a situation where the sales tax is included in the price, please follow this example to isolate sales tax from revenue:
Sale: $10.00 (Tax included)
$10.00 / 1.07 = $9.35 (Gross Sales Amount)
$10.00-$9.35= $0.65 (Sales Tax Amount)
For additional instructions on how to calculate sales tax (using bracket system), visit the Florida Department of Revenue’s How to Pay Estimated Sales and Use Tax tutorial:

6. 7% Sales Tax Brackets Amount of Sale Tax .10 - .14 .01 .15 - .28 .02
Here is the link to Florida Department of Revenue Sales Tax Brackets for 7% taxable transactions
If you go to the link shown above, the table on the right will appear in the first section
Here’s an example of how you may use this as reference
How much sales tax should you collect on a gross taxable sale of $297.53?
$ x 7% = 20.79
The tax on the .53 cents is .04
Total tax to collect is = $ 20.83
Amount of Sale
Tax
.01
.02
.03
.04
.05
.06
.07

7. The steps to submit the monthly sales tax reconciliation
Review DMAS Screens
Sales Tax Payable - Control Code 2151
Sales Tax Spreadsheet
Balancing and Corrections
The steps to submit the monthly sales tax reconciliation

8. Step #1 – Utilizing DMAS Transactions by Month Screen
Go to DMAS and select your Subsidiary Ledger (SL) Account (######) and Revenue Sub-code.
View transactions by month - select the month you are currently working on
See sample of this DMAS screen on next slide
Print the DMAS screen since it is to be forwarded as backup to the Controller’s Office

9. Sample DMAS Account History Screen Revenue Sub-Object Code

10. Step #2 – Analyzing Control Code 2151 (Sales Tax Payable)
Go to the Account Menu and enter the GL (0) Account along with account control code – Sales Tax Payable
View Account Transactions by Month for the month you are currently working on. See sample included on next slide
When analyzing 2151, back out last month’s payment to the State (Batch ID DMM###). If you don’t see a DMM### journal entry, there was no payment submitted on that account
Calculating your totals for that specific month should give you the true Sales Tax to be reported to the State of FL

11. Sample Account History Detail Screen GL Account – 2151 (Sales Tax Payable)

12. Step #3 – Completing the Sales Tax Spreadsheet
Once you have analyzed revenue and sales tax liability, then fill out the sales tax spreadsheet (sample included on next slide)
At this time you can make all necessary corrections, in case of key punch errors, unrecognized items, and miscalculations of sales tax
This step will allow you to investigate those items, correct them, and as result you will have a detailed reconciliation
Keeping copies of deposits, checks, journals, etc. is essential to know the activity of your account
Departments are responsible for keeping all supporting documentation on file for seven years in the event of an audit

13. Sales Tax Spreadsheet Example

14. Step #4 – Exempt Sales & Corrections
Keep Exempt Sales Amount (column E) in mind. Your bottom line totals – Gross Sales Amount (column C) and Sales Tax Amount Collected (Column H) should mirror your DMAS totals. Column F should only detail Net Taxable Sales
Notify us via if you have any corrections and attach a copy of the correction Journal Entry
The original correction journal must be sent via interoffice mail to Medical Finance or Controller’s Office data entry depending on the campus. You always have the option to drop it off in person
For any follow up questions or additional information on how to fill out your sales tax spreadsheet contact
General Accounting
@ ext

15. Submitting Your Reconciliation To The Controller’s Office
Include the following:
Sales Tax Spreadsheet with Prepared By and Reviewed By fields electronically signed off
Submit as an Excel attachment (PDF is not acceptable)
DMAS Account History Detail print screens for Revenue Sub –Objects (transactions for current processing month only)
Providing backup such as copy of deposits, checks, invoices, etc. is optional. These backups are required to be kept by the Department
Once you have performed a full reconciliation of your revenue and sales tax:
Gables campus documentation to
Medical campus documentation to both and
Submit by the 4th working day of the respective month

16. Summary
The presentation covered sales tax topics and then the steps involved to submit the monthly sales tax reconciliation
You should be able to view DMAS transactions by month and provide print outs as backup to the Controller’s Office
Recognize that account control code 2151 – Sales Tax Payable is to be used for reconciliation and reporting
Follow the guidelines and deadlines provided for submitting the monthly reconciliation

17. Thank You for Reviewing this Controller’s Office Presentation
Visit our Tax Services Web Site:
Resources and Technical Guidance
for Additional Florida Sales Tax Information