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Microsoft Dynamics GP 2013 Cookbook by Mark Polino, Ian Grieve

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Improving information with tax dates in transactions

When working with sales tax and use tax it is often useful to set the date of a transaction for tax purposes. For example, assume a February invoice subject to use tax arrives in March. This is after February has been closed and use tax submitted. The invoice still needs to be dated in February to age properly but it needs to appear on tax reports for March to ensure that the taxing authority is paid properly. Dynamics GP includes functionality to support this but it needs to be turned on. The tax date functionality was originally designed to support value added tax (VAT) popular in Europe and other parts of the world. Firms with this requirement will need to activate tax dates as well. In ...

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