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US Sales Tax Posting

Posted on by 55

I have setup the Sale tax for my US entity. I have setup the sales tax authority as a vendor and has mapped a vendor account. But when I posted a sales order the sales tax payable is getting posted directly into the Sales Tax Payable account in GL instead routing through the sub ledger (Tax vendor account). Kindly help me out to sort out the mistake in my configuration.

  • Junaid Idrees Profile Picture
    Junaid Idrees 12,740 on at
    RE: US Sales Tax Posting

    Hi Sathyanaath Kalyanasundaram

    Did it help you fixing your problem or do you need any additional information/Help from community?

  • Suggested answer
    André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 288,459 Super User on at
    RE: US Sales Tax Posting

    Hi Sathyanaath,

    Junaid is correct. There are postings on a balance account and details are kept in Tax transactios. Once you run the Tax payment job for reporting to the authorities, it will calculate the balance due and create a vendor transaction. Then you can use the payment journal to also include the payment to the authority. You don't want to have a vendor transaction for every single Tax transaction.

  • Suggested answer
    Junaid Idrees Profile Picture
    Junaid Idrees 12,740 on at
    RE: US Sales Tax Posting

    Hi Sathyanaath Kalyanasundaram,

    When you setup sales tax authority and link the vendor.  Did you also link authority on Sales tax settlement periods screen? Did you also run the settlement process from Periodic Task >> Declaration > Report sales tax for settlement period? Once you run that routine, All tax codes associated with the settlement period will be settled and the tax liability will be posted to tax vendor account.

  • Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: US Sales Tax Posting

    Hi Sathyanaath,

    Can you share a screenprint of the voucher and the transaction origin of that voucher created?

    Also, can you share details of your sales tax setup especially the sales tax code and the calculation principles applied.

    Many thanks,

    Ludwig

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