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dynamiczip:features:purchase_tax_accrual

Use Tax Accrual

Overview

This feature enables you to accrue tax on purchases whether or not the vendor is billing you for that tax. Use tax transaction history is created for reporting purposes along with the general ledger tax accrual distributions that this feature adds automatically to the transaction's standard distributions.

See Accruing Use Tax on Purchases for more information.

Tax Accrual Reporting

See Advanced Tax Reporting for more information.

At the time the purchasing transaction is entered, DynamicZip adds document tax detail records to the DZ PM Taxes Work and History table These tax details are used for reporting purposes.

These accrued tax details will appear in the DZ Tax Detail Entry window prior to posting, and the DZ Tax Detail Zoom window after posting.

At the time the purchasing transaction is entered, DynamicZip adds document tax detail records to the DZ Purchasing Tax History table. These tax details are copied to the DZ PM Taxes Work and History table when Purchase tax reports are run.

These accrued tax details will appear in the DZ POP Invoice Accrued Tax Summary Entry window.

Tax Accrual Posting Accounts

Debit

Please see the Charge Tax Expense setting in the DynamicZip Setup window.

Credit

The taxes owed will be accrued to the posting account assigned to the purchases tax detail(s), if one has been assigned. If not, then the account will be the Tax account specified in Posting Account Setup for Purchasing.


Use Tax Accrual Setup
DynamicZip Features

dynamiczip/features/purchase_tax_accrual.txt · Last modified: 2017/09/12 20:17 by conni