Book Image

Microsoft Dynamics GP 2010 Cookbook

By : Mark Polino
Book Image

Microsoft Dynamics GP 2010 Cookbook

By: Mark Polino

Overview of this book

Microsoft Dynamics GP is an Enterprise Resource Planning system, essentially an accounting system on steroids, designed for mid-sized organizations. The implementation of Dynamics GP is usually considered to be complex, and people often realize there must be more efficient ways of working with the system. This book will show readers how to improve their use of Dynamics GP and get the most out of this tool quickly and effectively.This book picks up where implementation training leaves off. Whether you are new or experienced you will find useful recipes for improving the way you use and work with Dynamics GP. The clear recipe steps and screenshots make implementing these solutions easy for users of any level and will be sure to improve your efficiency with the Dynamics GP system.The book starts with recipes designed to enhance the usefulness of Microsoft Dynamics GP by personalizing the look and feel of the application. Most of the recipes are designed to give tips for a typical installation of Dynamics GP, including core financials and distribution modules. The book then moves through recipes that include automating Dynamics GP to allow users or administrators to focus on value adding tasks, harnessing the power of SmartLists to leverage both simplicity and power, connecting Dynamics GP to Microsoft Office 2007, exposing hidden features in Dynamics GP, and much more!By following the clear recipe steps and screenshots in this book, you will learn what is required to improve your efficiency with the Dynamics GP system
Table of Contents (17 chapters)
Microsoft Dynamics GP 2010 Cookbook
Credits
About the Author
Acknowledgement
About the Reviewers
Preface
Index

Entering and Tracking Use Tax with Credit Card Functionality


Use Tax is a form of self-reported sales tax. Companies in the United States who purchase items not intended for resale are typically required to pay sales tax. If they are not charged sales tax at the time of purchase they are required to report and remit use tax on these items.

Dynamics GP is well equipped to deal with sales tax but use tax presents more of a challenge. Essentially, use tax needs to be applied to an accounts payable transaction but the payment of use tax is sent to a taxing authority, not to the transaction vendor. A common way to accomplish this in Dynamics GP is to use the built-in credit card functionality to shift the use tax liability from the vendor to the taxing authority.

In this recipe, we'll use the sample company and look at hacking credit card functionality to enter and track use tax.

Getting ready

Before we start we need to set up a use tax detail and a credit card for a taxing authority. To set up a...