Setting up sales tax in Microsoft Dynamics 365 Finance and Operations (D365 F&O) is crucial for compliance and accurate financial reporting. This guide provides a step-by-step overview of the functional aspects of configuring sales tax in D365 F&O. 1. Define Sales Tax Authorities Begin by defining the sales tax authorities, which represent the taxing bodies (e.g., federal, state, or local tax agencies). Navigate to Tax > Indirect taxes > Sales tax > Sales tax authorities and create new records for each authority, providing relevant details like authority name and address. 2. Create Sales Tax Codes Sales tax codes represent individual tax rates. To create sales tax codes, go to Tax > Indirect taxes > Sales tax > Sales tax codes . For each code, specify the tax percentage, effective dates, and associated ledger accounts. These codes will be used to calculate the tax amount on transactions. D365 Operations Training 3. Set Up Sales Tax Groups S...
.jpg)
Comments
Post a Comment