O'Reilly logo

Microsoft Dynamics GP 2016 Cookbook by Mark Polino, Ian Grieve

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Tackling self-assessed taxes such as Use Tax with the Reverse Tax functionality

In some jurisdictions, companies are subject to self-assessed purchase taxes. An example of this in the United States is Use Tax. Use tax is a variation of sales tax that is paid by a company when it retains untaxed goods instead of passing them through to customers. Since the company is the final user, they are responsible for paying the tax.

Dynamics GP doesn't handle self-assessed taxes automatically, but built-in Purchase Tax functionality and negative taxes can address this. In this recipe, we'll show how to use these features to handle these types of tax.

Getting ready

This process has some setup that needs to be done. The nice part about this option is that the ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required