5,201
hi,
my company is using microsoft dynamics gp2013 version. i was not using tax option in my system .currently i need to add tax 5% in my system for inventory or no inventory items. i am using the module for Finance , sales (only using for inter transfer items from one company to another) ,purchasing, inventory and fixed asset. please let me know the steps how can i implement it.
Regards,
Refeesh Aliyar
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Hi,
For these types of transactions I always set up a special Tax Detail / Schedule...for example called 'P-NONVAT'.
You can then analyse the transaction with this tax detail and enter a VAT amount.
You will probably want to code the tax GL distribution to either:
1. the same GL account you used for the purchase, or
2. a new GL account (P&L) for 'Un-reclaimable VAT'.
On the VAT Daybook reports, don't include this tax detail. Therefore any transactions that have this tax detail will not be included in your VAT Daybook reports / or on your VAT return.
Hope this helps.
Ian.
Hi Ian,
I was follow up your comments for 3 months and managed to do VAT input and report in GP2015. In case there is a VAT on purchase invoice but that is not claimable as per Law due to any reasons lets say invoice is not appropriate or not addressed to company etc. Then how to handle this in GP if I dont want to enter gross amount (invoice+vat) blindly as expense.
@Ian Stewart,
sorry for delayed reply.
Let me clarify our system. we are in hospitality business with multiple brands. each brand in each separate database. the SOP is doing in another POS application and doing the integration to the GP system. so the tax input is coming as account recivables in the GL. but our main concern is when we purchase an item from outside as raw material we need to include the tax in the system based on purchase order. it might be by the % of the total invoice tax or by item. when it is receiving the PO with invoice the tax should apply and move to payable.
hope the information is sufficient to answer to my requirements.
i just need to know how i can implement by item and by invoice.
thanks,
Refeesh Aliyar
Hi Refeesh,
We need a bit more information. Do you need the system to automatically apply a 5% sales and/or purchase tax to transactions? - transactions entered through the receivables (and SOP) or payables (and POP) modules?
What region is the company operating in? Do you need to submit VAT returns etc.
Ian.
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