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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Tax - On account proje...
Finance | Project Operations, Human Resources, ...
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Tax - On account project invoice in fixed price project

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Posted on by Mukesh Sinwer 61
Hi Experts,
 
Is there any way to do the reverse calculation of tax on project invoice? Similar to the option as we have on Journals (tax is included in the amount itself). I need similar option for on account transaction invoice on a fixed price project in D365 Finance & operations.
 
Your response will be highly appreciated.
 
Regards
Mukesh
I have the same question (0)
  • André Arnaud de Calavon Profile Picture
    André Arnaud de Cal... 299,947 Super User 2025 Season 2 on at
    Tax - On account project invoice in fixed price project
    Hi Mukesh,
     
    Can you provide an example of the required outcome (accounting entries)?
  • Mukesh Sinwer Profile Picture
    Mukesh Sinwer 61 on at
    Tax - On account project invoice in fixed price project
    Hi Andre,
     
    Thanks for looking into my question. The accounting entry shall be like as below for an on-account transaction created with sales price = EUR 99.
     
                                                        DR        CR
    project invoiced on-account                    90
    Customer                                     99 
    Sales Tax payable                                      9
     
    May be my question is not clear, let me clarify a bit more what am looking for.
     
    What is happening today:
     
    Sales price at on-account amount = EUR 99
    TAX = 10%
    Tax calculation on project invoice proposal/invoice = 99*10% = 9.9.  Tax is calculated on top of sales price.
     
    What we want to achieve:
     
    Sales price at on-account amount = EUR 99
    TAX = 10%
    Tax calculation on project invoice proposal/invoice = 90*10% = 9.  Tax is already included in the sales price. I want to calculate it in reverse direction.
     
    Basically, the milestones are created including tax amount.
     
    Regards
    Mukesh
     
  • Mukesh Sinwer Profile Picture
    Mukesh Sinwer 61 on at
    Tax - On account project invoice in fixed price project
    Hi Andre,
     
    Thanks for looking into my question. The accounting entry shall be like as below for an on-account transaction created with sales price = EUR 99.
     
                                                        DR        CR
    project invoiced on-account                    90
    Customer                                     99 
    Sales Tax payable                                      9
     
    May be my question is not clear, let me clarify a bit more what am looking for.
     
    What is happening today:
     
    Sales price at on-account amount = EUR 99
    TAX = 10%
    Tax calculation on project invoice proposal/invoice = 99*10% = 9.9.  Tax is calculated on top of sales price.
     
    What we want to achieve:
     
    Sales price at on-account amount = EUR 99
    TAX = 10%
    Tax calculation on project invoice proposal/invoice = 90*10% = 9.  Tax is already included in the sales price. I want to calculate it in reverse direction.
     
    Basically, the milestones are created including tax amount.
     
    Regards
    Mukesh

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