Status: Accepted

In this session, I shall demo how we can setup the Conditional Sales tax functionality and how the same is paid to Govt/ statutory authority. For some of the countries, especially in Europe, the Sales tax authority allows for sales taxes and base amounts to be reported when the invoice is paid, not when that goods and service is received. Example~ On June 10, you create an invoice of 10,000 plus 2,500 in sales tax. On July 10, you report taxes for June. The 2,500 is not included in the sales tax payment, because the invoice has not been paid. On July 15, the customer pays half of the invoice amount, 5,000, plus 1,250 in sales tax. On August 10, you report taxes for July. The 1,250 is included in the sales tax payment. When the customer settles the invoice with a second payment of 6,250, the remaining sales taxes are reported and paid.

Technical Level: 200

Presented By: Ramit Paul