Represent Input and Output VAT in Dynamics GP?

(0) Share

Report

Posted on by chadbruels

1,582

Can you help me understand how to represent Input and Output VAT on a Purchase Transaction in Dynamics GP?

The scenario I understand is the case of a buyer working with a seller who is outside the tax authority's jurisdiction, so the buyer must record both the Input and Output tax. I was shown this situation in another system and in that system's equivalent of a Tax Detail Entry window there was a Tax Input ID with a positive amount and a Tax Output ID with a matching negative amount.

Tax Input ID > 37.50

Tax Output ID > (37.50)

Tax Detail Entry windows in Dynamics GP do not allow a negative tax amount. How do you represent this situation in Dynamics GP?

*This post is locked for comments

All responses (2)

Answers (0)

chadbruels 1,582 on at

Like (1)

Report

RE: Represent Input and Output VAT in Dynamics GP?

The requirement that has been described to me is that input and output tax must be reported to a tax authority. We have since discovered the Company Setup Options window has a checkbox for 'Enable Reverse Charge Taxes'. When that is marked you will be able to enter negative amounts in the tax detail maintenance window to account for this situation.
Beat Bucher GP Gee... 28,021 Super User 2024 Season 1 on at

Like (0)

Report

RE: Represent Input and Output VAT in Dynamics GP?

Hi Chad,

I don't know about your case, but for me this is a zero-sum game... in our company, when working with out-of-state suppliers, there is simply no tax added to the PO's.. is that a legal requirement to track a non-existing tax ?

#confused