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Question from angel_goes_traveling on Sep 12 at 11:48 AM Hello gurus,
I have an international client who currently has one company code in the USA. They use TAXUS and this existing company code hardly posts with taxes.
Now they will connect another US company code which has many tax complicated sales to different states and also abroad.
My questions are:
- Would you recommend a switch to TAXUSJ or TAXUSX with external tax software? - Which external tax software would you recommend?
- I have seen in their tax procedure TAXUS that the calculation of Use tax is based on the value of the A/P Sales Tax 1 Inv. (with account key NVV). Is this standard?
- Could you explain me why the Use Tax is not based on the Base Amount (BASB) like the other taxes?
- How is the correct setup of Use Tax and how does it differ from Expense Tax?
my current TAXUS procedure:
100 0 BASB Base Amount
200 0 A/P Distributed
210 0 AP1I A/P Sales Tax 1 Inv. 100 NVV
220 0 AP2I A/P Sales Tax 2 Inv. 100 NVV
230 0 AP3I A/P Sales Tax 3 Inv. 100 NVV
240 0 AP4I A/P Sales Tax 4 Inv. 100 NVV
300 0 A/P Undistributed
310 0 AP1E A/P Sales Tax 1 Exp. 100 VS1
320 0 AP2E A/P Sales Tax 2 Exp. 100 VS2
330 0 AP3E A/P Sales Tax 3 Exp. 100 VS3
340 0 AP4E A/P Sales Tax 4 Exp. 100 VS4
400 0 A/P Use Tax Distributed
410 0 AP1U A/P Sales Tax 1 Use 210 MW1
420 0 AP2U A/P Sales Tax 2 Use 220 MW2
430 0 AP3U A/P Sales Tax 3 Use 230 MW3
440 0 AP4U A/P Sales Tax 4 Use 240 MW4
How do I correctly define a use tax code with these settings? FTXP asks for an entry in line 210 when I want to put a rate in line 410.
I tried with the same values in both lines 210 and 410 and the result is close to the real amount but not 100% correct. Should I define use tax just in lines 310-330? That´s where I have defined expense tax E1.
Thanks a lot for your help!
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