End to end T accounts for out of box USA taxation settlement in Microsoft Dynamics 365 Financials
|
sales tax receivable not included in US taxation rules |
Sales invoices having tax |
|
Dr |
Cr |
|
Sales tax GL (Sales tax payable and use tax) |
|
611 |
*Ensure vendor is assigned in tax authority |
|
Tax Settlement |
|
Dr |
Cr |
Sales tax code 2200 |
Sales tax vendor |
611 |
611 |
Vendor Payment |
|
Dr |
Cr |
Vendor tax authority |
Bank |
611 |
611 |
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