Texas Sales Tax Payable Requests- 12/18/24
- Scott Zhuo
Design Note
On the Amortization table, add a new field, Ship-to Texas.
When creating Amortization, and if Shipping State = Texas, check this new field. Then look at below to create additional GL Entries.
Lease Amortization Line Type = Initial Entry
Shipping State != Texas (current program - tested and approved)
GL Accounts | Debit | Credit |
|---|---|---|
Lease Receivable Account | 668.94 |
|
Product Revenue Account |
| 668.94 |
Shipping State = Texas
GL Accounts | Debit | Credit | Comments |
|---|---|---|---|
Lease Receivable | 668.94 |
|
|
Product Revenue |
| 668.94 |
|
Sales Tax Payable |
| 70 | Original Ownership Amount * Tax Rate |
Sales Tax Receivable | 70 |
|
|
Lease Amortization Line Type = Monthly Entry
Shipping State != Texas (current program - tested and approved)
GL Accounts | Debit | Credit |
|---|---|---|
Accounts Receivable | 18.35 |
|
Lease Receivable Account |
| 11.40 |
Interest Income Account |
| 5.55 |
Sales Tax Payable Account |
| 1.4 |
Shipping State = Texas
GL Accounts | Debit | Credit |
|---|---|---|
Accounts Receivable | 18.35 |
|
Lease Receivable Account |
| 11.40 |
Interest Income Account |
| 5.55 |
Sales Tax Receivable |
| 1.4 |
Lease Amortization Line Type = Cancellation
Shipping State != Texas (current program - tested and approved)
GL Accounts | Debit | Credit |
|---|---|---|
Write-off Account | 634.45 |
|
Lease Receivable Account |
| 634.45 |
Shipping State = Texas
GL Accounts | Debit | Credit |
|---|---|---|
Write-off Account | 634.45 |
|
Lease Receivable Account |
| 634.45 |
Sales Tax Payable | 68.6 |
|
Sales Tax Receivable |
| 68.6 |
Lease Amortization Line Type = Discount
Ignore
Lease Amortization Line Type = Down Payment
Ignore