Gross Receipts Tax on Goods Incurred on the PCard

Account Code NMGRT – Goods A new account code has been established to capture the gross receipts tax paid on goods, from which NMSU is exempt. This new account code is NMGRT – Goods. The PCard expense will continue to be processed through the WellsFargo CCER system.

Reclassify Select the transaction (select one at a time) Click Split & Reclassify

Split Transaction Sales tax entry Office supplies entry

Assign Account Code Change General Ledger Code (Account Code)

Add Description

Add Index Change Index (if needed)

Approve/Decline Select Decline – Sales Tax

Save Click Save

Sales Tax Reimbursement

Other Sales Taxes NMSU is not exempt from New Mexico Gross Receipts Taxes on services or from sales taxes of other states. These should continue to be recorded in account code

Fiscal Monitor Review Fiscal Monitors will be monitoring the new account code. As they do with account code , Fiscal Monitors will be notifying departments of the need to resolve any balances residing in the NMGRT – Goods account code.

Contact Information PCard Administration pcard.nmsu.edu