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dynamiczip:faq:pop_project_accounting_faq

How can I use Use Tax Accrual with Project Accounting?

I need accrued tax to be included in the Forecasting window's Total Cost.

Tax accrued in the background by DynamicZip is not automatically added to a project's cost.

However, the steps below may provide a functional workaround for updating a project's cost to include tax on purchases.

  1. Create a Vendor card for the tax owed to the state. NOTE: Do not use a Tax Schedule ID for this Vendor.
  2. Create a Cost Category for non-inventory Purchases/Materials.
  3. Add the Cost Category to your project.
  4. For every Purchase Order Transaction:
    1. Enter a second purchase order for the new tax Vendor.
    2. Enter or lookup the appropriate Project Number.
    3. Enter or lookup the new Cost Category.
    4. Enter a non-inventory item for the accrued tax.
    5. Use a quantity of 1 and set the Unit Cost equal to the amount of tax accrued in the original purchase order.
  5. After posting the Purchase Invoice for the tax you should see the tax included in the Total Cost field on the Forecasting window.

Please see Include Use Taxes In Project Costs and Project Accounting Tax Engine for additional information on using DynamicZip Use Tax Accrual feature with Project Accounting.


Frequently Asked Questions
Use Tax Accrual

dynamiczip/faq/pop_project_accounting_faq.txt · Last modified: 2016/09/26 22:16 by conni

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