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dynamiczip:features:accruing_use_tax_on_purchases

Accruing Use Tax on Purchases

Verify your Use Tax Accrual Setup.

If the use taxes have been included in the vendor's invoice, DynamicZip will still accrue them in the background. However, the debit distribution created by Microsoft Dynamics GP to the tax account will offset the credit created by DynamicZip to the same account. The net result will be the debit created by DynamicZip. See Charge Tax Expense for more information on the tax accrual posting accounts.

If the use taxes have not been included in the vendor's invoice, type a zero in the transaction entry window's Tax field 1) and DynamicZip will remove the related Microsoft Dynamics GP tax details. The use tax will then be accrued but there will be no offsetting payment of the tax to the vendor. The net credit will be to the tax payable account.

DynamicZip will create the supplemental set of tax details when Microsoft Dynamics GP creates its tax details. This usually happens when you tab into the Tax field or modify the document's tax schedule. The DynamicZip tax details can be viewed and modified by choosing Accrued Purchase Tax from the Additional menu, which is available when the Payables Transaction Entry window is open.

DynamicZip will create the supplemental distributions based on the document's tax details when Microsoft Dynamics GP creates its distributions. This usually happens when you save the voucher or click Distributions. After the distributions have been created they will not automatically be updated when the voucher is modified. After they have been created, you can either modify the distributions manually or click Default in the Payables Transaction Entry Distribution window to automatically recreate the default distributions.

These features are enabled in the following windows:


Use Tax Accrual
DynamicZip Features

1)
Allow Summary-Level Tax Edits must be enabled in the Dynamics GP Company Setup Options window.
dynamiczip/features/accruing_use_tax_on_purchases.txt · Last modified: 2016/12/20 15:34 by chuck