check sales tax code in GL parameters

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Posted on by marypeace

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Hi,

Just want to ask what exactly is the meaning of check sales tax code in GL parameters>>Sales tax tab in D365 F&O?

Appreciate your inputs.

Thanks.

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A.Prasanna 8,223 on at

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if you move the pointer to Check Sales Tax Code above will appear.

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Gaurangkumar Jani 4,534 User Group Leader on at

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Hi marypeace

This is control while posting transaction. While posting transaction system will check if there is any matching code available or not. If you chose error and while posting you select Sales Tax Group and Item sales tax group which does not have any common sales tax code system will throw the error.

Example:

Please let us know if this helps.

Thanks,

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Hana Xue Microsoft Employee on at

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Hi marypeace,

A sales tax code stores the tax rates and calculation rules for the sales tax. For every sales tax that a company must account for, a sales tax code must be defined.

Every sales tax code must be linked to a sales tax settlement period, a ledger posting group and sales tax reporting codes. Every transaction that sales tax needs to be calculated and posted for must have a sales tax group and an item sales tax group.

Sales tax settlement periods define the intervals at which sales tax must be reported and paid to the sales tax authority.

A ledger posting group specifies the main accounts that amounts for the sales tax codes will be posted to.

Optional sales tax reporting codes can be assigned on sales tax codes for the various amount types that are calculated for the sales tax code.

The following diagram shows the entities of the tax setup and how they are related.

For more information you can view the link below.

Sales tax overview - Finance | Dynamics 365 | Microsoft Learn

Best Regards,

Hana

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marypeace 524 on at

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Thank you, appreciate your inputs.

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marypeace 524 on at

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Thank you, appreciate your inputs.

It means if there is no common sales tax code between sales tax group and item sales tax group, the system will throw an error.

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marypeace 524 on at

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Thank you, appreciate your effort in explaining the tax setup.

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