Use Tax Accrual : (View)

Collection:	dynamiczip	Name: PurchaseTaxAccrual
Categories:	DynamicZip Tax Reports Features
Last Edited:	4/Aug/10 08:25:05 by Jared

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Overview

Tax Accrual Reporting

For transactions entered in the Payables Transaction Entry window:

For transactions entered in the Receivings Transaction Entry window & Purchasing Invoice Entry windows in POP:

Tax Accrual Posting Accounts

Debit

Credit

Features

Overview

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

Tax Accrual Reporting

For transactions entered in the Payables Transaction Entry window:

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.

For transactions entered in the Receivings Transaction Entry window & Purchasing Invoice Entry windows in POP:

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.

Back to Use Tax Accrual Settings