Saturday, February 23, 2019

Change Tax Control Accounts on Tax Codes for Nexus other than United States and Canada

Step 1: Edit the Tax Preference:
1. Navigate to Setup > Accounting > Setup Taxes
2. Under Nexus tab eg. United Kingdom
3. Uncheck the box "Only Use Tax Control Accounts on Tax Types"
4. Click Save

Step 2: Edit the tax type

1. Navigate to Setup > Accounting > Tax Types
2. Click Edit on VAT for the country United Kingdom
3. In the Asset/Purchase Tax Account dropdown list and select  an account (i.e. VAT on Purchases2) from the list
4. Click Save

Step 3 : View a Tax Code from the nexus

1. Navigate to Setup > Accounting > Tax Codes
2. Click on a Tax Code from the United Kingdom nexus eg. SR-GB
3. Note that the Purchase Tax Account now shows "VAT on Purchases2'

 

No comments:

Post a Comment