Presentation on theme: "Tax management: Sales tax processing"— Presentation transcript:
1 Tax management: Sales tax processing Calculating and reporting taxes in Microsoft Dynamics® AX 2012
2 Flexible setup and tax calculation Tax codes specify settings and rules for calculating a specific sales tax.Tax codes are grouped into sales tax groups and item sales tax groups.Sales tax groups are assigned to data entities such as customer or vendor.Item sales tax groups are assigned to specific items.Sales tax codes within a given sales tax group and item sales tax group determine the taxes to be calculated for a transaction line.
3 Business value: Complete functionality for reporting and paying taxes Sales tax reporting codes can be assigned to tax codes to calculate total taxes for periodic reporting.A periodic sales tax payment job posts taxes to tax settlement accounts and generates tax reports in country/region-specific formats.
5 Determining taxes example The following diagram represents a sales order with two lines.CustomerLine 1 / Item ALine 2 / Item BSales Tax GroupItem Sales Tax GroupA sales tax group is assigned to Customer; item sales tax groups are assigned to Items A and B.Sales Tax CodesABDFHCESales tax codes A–H are assigned to the sales tax group and item sales tax groups.Matching sales tax codes in the sales tax group and item sales tax groups are used to calculate and post taxes (tax codes B and H for line 1; C, E, and H for line 2).