VisionCore How To
Home Search Support Forum Knowledge Base Print

Using other GL account when setting up a Use Tax Code

This enhancement allows user to create a Use Tax code that posts to an account other than an expense or liability account. So changes was made on tax component form where ability to select any account when setting up a Use Tax code is added.

 

Tax Components [Purchasing] form can be opened from Purchases > Tax Codes [Purchasing] form then click on Tax Components button.

Use_tax1

 

Tax Components [Purchasing] form will then open where you can add new Use Tax component. When setting up Use Tax component, Use Tax checkbox should be checked to enable Liability account field.

Use_tax2

 

On the Expense account field, you can choose any account to be used in place of Expense account.

Use_tax3

 

Info Note that Cash Accounts, Credit Card, Payables and Receivable Accounts are not included in the Expense account drop down list because these accounts are involved in the special books.

 

When used in purchasing transaction, the selected account will be impacted instead of Expense account.

 

Example:

Create Purchase Receipt and apply the created Use Tax above where Asset account is used as Expense account.

Use_tax4

 

Process it to Bill and Post.

Use_tax5

 

Checking the General Ledger form, Expense account for Use Tax is now impacted on GL as Asset account.

Use_tax6

 


Reference: Task 1733