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sales tax for D365

  • 1.  sales tax for D365

    Posted Aug 04, 2020 11:24 AM
    ​Looking for any D365 users preferably in Mfg and how they use the system in regards to sales tax.  I have a lot of manual intervention in preparing our sales tax returns and would like to see how you use the system in preparing your information to submit to the proper agencies.  Do you use an add on?  Do you outsource?

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    Jill Dorne
    Sutphen Corporation
    Hilliard OH
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    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


  • 2.  RE: sales tax for D365

    TOP CONTRIBUTOR
    Posted Aug 06, 2020 04:40 PM
    Hi Jill,

    I will give a general answer, wearing my "solution architect" hat (and using my opinion...)
    My answer is quite general, makes a couple of assumptions: (and given I do not know the specifics of what processes are proving to be a manual nightmare):
    - Your requirements are related to sales tax in the USA only.
    - You main business scenarios are:
    • Recording and collecting sales tax on sales orders
    • Recording use tax for material not re-sold

    What would out of the box D365 do for you:
    when correctly configured (not always a trivial task!) can get you
    - calculation and recording of sales tax on sales orders
    - reporting by tax authority allowing to identify what numbers that needs to be reported and remitted for each tax authority.
    - ability to record use tax
    - ability to manually adjust/correct tax amounts.
    - ability to reconcile/audit sales data with sales tax recording

    Typical 3rd Party Application
    - Handles keeping track on changing tax rates (in case you sell in many jurisdictions and deal with many different local tax rates.
    - Electronic/automated link to perform the filing (in case you need to file in many states)
    - Might have some automation regarding recording use tax

    So depending on what your particular manual bottlenecks are, an external service might give you value.

    Zvika


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    Zvika Rimalt
    Functional Consultant
    Vancouver BC
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    The first step toward cloud success. - Migrate from AX to D365 with expert guidance from Microsoft. I'm Ready


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