Friday, July 5, 2019

Ability to Add tax Codes to Canada tax Group

For tax recovery purposes, some Canadian companies require the ability to track 50% of GST (Purchase) in one account, and 50% in another account.


As of the moment, the tax group function for Canada nexus is limited to including 2 types of tax codes only (GST/HST and PST).


As an alternate solution, users can create a transaction search to look specifically for purchase transactions impacting the GST and from there make some manual adjustments via a journal entry.


1. Navigate to Reports > Saved Searches > All Saved Searches > New > Transaction.

2. On the Criteria tab > Standard subtab, add the following filters:

 Type = Bill

 Memo = is GST


You can also add a filter for Date or Period to limit the results to a specific date/period range.


3. On the Results tab, mark the Show Totals box.


4. Still on the Results tab > Columns subtab, add the following fields:






 Formula (Currency) -to be renamed as %0% GST to be Adjusted ; Formula = {amount}/2


 5. Rename the search and hit Save & Run.

No comments:

Post a Comment