How to enter tax payment with a "Pay on time" rebate

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M1EnterpriseTech
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How to enter tax payment with a "Pay on time" rebate

Post by M1EnterpriseTech »

We always encourage you to use the Taxes and Payroll Module for Tax Remittance.

The following is a scenario where you may need to go outside of the module to pay your tax liability:

Scenario #1:

You received a rebate check that is supposed to reduce amount you will be required to pay on the next remittance.

If so, You will first need to add a tax line as follows:

* Go to Setup on the home ribbon
*Tax Agencies
* Double click to open the Tax Agency ( I.e. Minister of Finance, etc.)
* Click on Tax Lines
* Click on Action button
* Click Add
* Then"Type" will be Deduction

Note: Code will be based on the tax sheet

* Give it a name ( I.e. "Rebates")
* Enter a description
* Click Ok

Now you can use the adjustment button on the taxes and payroll screen/ module for the Tax Agency
that will affect the Rebate line just created.

* Enter the amount to reduce the overall remittance payment.

Scenario #2:

You received a physical rebate check that you simply want to deposit to the bank in the program.

Just create a GL Adjustment transaction that will hit the bank and the offsetting ledger account of your choice.
Enterprise Support Specialist
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