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) which is popular in Europe and other parts of the world. Firms with this requirement will need to activate tax dates as well. In this recipe, we'll look at how to activate and use tax dates.
Getting ready
Prior to using Tax Dates, they need to be activated. To activate Tax Dates, follow these steps:
Select Administration from the Navigation list. On the Administration area...
