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Microsoft Dynamics GP 2013 Cookbook by Mark Polino, Ian Grieve

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Entering and tracking use tax with credit card functionality

Use tax is a form of self-reported sales tax. Companies in the United States who purchase items not intended for resale are typically required to pay sales tax. If they are not charged sales tax at the time of purchase, they are required to report and remit use tax on these items.

Dynamics GP is well equipped to deal with sales tax but use tax presents more of a challenge. Essentially, use tax needs to be applied to an account's payable transaction but the payment of use tax is sent to a taxing authority, not to the transaction vendor. A common way to accomplish this in Dynamics GP is to use the built-in credit card functionality to shift the use tax liability from the vendor to the taxing ...

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