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Microsoft Dynamics GP (Archived)

Charge Sales tax to Item cost

Posted on by 14,849

Dear

Based on the customer requirement , i need to charge the sales tax on the item cost itself.

in the Sales tax , i selected "Post To Inventory Account" ,

that happened , when i did a receiving , but if you check the current cost after the receiving , it didn't add the sales tax amount on the current cost.

i need to add the sales tax amount as part of the item cost.

i had an idea of adding the Sales Tax as "Landed Cost" but that wouldn't work since it will not show on the initial PO

any idea's ? how can i add the sales tax on the item cost since it is the

the reason i didn't put the sales tax as regular item in the PO is because i am also constraint with Withholding tax that i want to calculate at the time of the payment on the PO amount (w/o sales tax)

your feedback is greatly appreciated

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  • Abdo Khoury Profile Picture
    Abdo Khoury 14,849 on at
    RE: Charge Sales tax to Item cost

    Hello,

    thanks for the reply ,

    what do you mean "set your sales tax rates to include tax" what will it do ? and how do i do it ?

    no we don't remit it , or pay it to the taxing authority , we charge it to our expenses -- you probably will suggest that in this case i should place it in the PO itself ) well i have Withholding tax as well , and it is applied on the Invoice amount alone (w/o Sales tax) that is why i need the amounts to be seperated (Amount + Sales tax)

    your feedback is greatly appreciated

    Regards

  • L Vail Profile Picture
    L Vail 65,271 on at
    RE: Charge Sales tax to Item cost

    You can set your sales tax rates to include tax, but I sense you need more. Do you remit the sales tax to the vendor, or do you pay the taxing authority?

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