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Can anyone point me to good knowledgebase articles or other resources about setting up sales and use taxes? Specifically, we are trying to integrate sales tax reporting into our AP processing. We have a significant amount of use tax (self reported sales tax). Currently, we are grossing up the voucher line for the tax rate, and then creating a credit line that goes to use tax payable account. At the end of the month, we pull the amount in the use tax payable account and pay to the state. It is working , but I'm wondering if there is an easier way?
I established a tax ID for use tax, but it is increasing the amount due to the vendor at the voucher level. This does not work because we are paying vendor for material only, the rest goes to the state at the end of the month. Is there a way to indicate that this is a self assessed tax?
Also, on the tax maintenance screen (21.280.00), purchasing tab, I left the tax expense account blank. When the voucher posts, it posts the tax portion to the same GL account that the item posts to. That is how we account for tax, so that works for us. However, the tax portion does not pull through the project and task. Is there a way to get the project to pull through?
Thanks in advance for your help.
Elizabeth
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Hi Elizabeth,
I went to Bing.com and searched on 869020 use taxes. The article was the first in the list. Let me know if you find it or not.
Carolyn - Thanks for your response. Silly question - how do I get to that knowledge base article? It is not coming up when I put the article ID in the search field.
The project not updating - currently I have no expense account in the Tax ID setup screen. So I created a voucher to office supplies account, office location project and set the tax ID to add taxes. The line for taxes (the one that auto-posts when the voucher posts) posted to office supplies account, but the project field was blank. Wondering if there is a way for the tax line to post to a specific project.
Thanks,
Elizabeth
Hi Elizabeth,
What you describe in your first paragraph is one way to handle sales and use taxes in Dynamics SL. There is a Knowledge Base article number which describes two other possible methods. The KB article is 869020.
Let me know what you think. I'm not sure I understand what you are describing about the project not being updated. Is this related to what you are describing in the second paragraph? There is no place to tell the system it is a use tax. SL doesn't have any functionality directly to handle use taxes.
There might be a third party product. Does that interest you?
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