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Conditional sales taxes setup and transaction in D365 BY CA Mukesh Jha

A. Conditional sales taxes setup and transaction in D365 FO: - 1. Business Requirement Sales taxes are usually reported in the period when the invoice is created. Business wants to report sales tax amount when the invoice is paid. Example- On June 10, you create an invoice of 10,000 plus 2,500 in sales tax. On July 10, you report taxes for June. The 2,500 is not included in the sales tax payment, because the invoice has not been paid. On July 15, the customer pays half of the invoice amount, 5,000, plus 1,250 in sales tax. On August 10, you report taxes for July. The 1,250 is included in the sales tax payment. When the customer settles the invoice with a second payment of 6,250, the remaining sales taxes are reported and paid. 2. Solution If a sales tax authority allows for sales taxes and base amounts to be reported when the invoice is paid, we can use the conditional sales taxes functionality. For invoices that are not fully settled with a single payment, sales taxes are reported and paid to the sales tax authority on the amounts that are settled, not on the total invoice amount. 3. Overview of how to set up conditional sales taxes a. Required in some countries/regions: Create separate main accounts for sales taxes on invoices that are awaiting settlement and create separate sales tax ledger posting groups to control the posting of conditional sales taxes to the separate main accounts. b. Create a separate settlement period for conditional sales taxes that is aligned with the settlement period for ordinary sales taxes and for reporting to the sales tax authority. c. Create and align two sales tax codes: one for the conditional sales tax and one for the sales taxes that you must report. d. Set up sales tax groups and item sales tax groups that contain one of the two sales tax codes that you created. e. Select the Conditional sales tax check box in the Sales tax area of the General ledger parameters form.