Question

Use Tax in Inventory Management

E
Rank
Userlevel 1

Is anyone aware of how use tax can be calculated on the inventory management module?  

9 replies

Laura02
Rank
Badge +18

Hello @elisemorban11 ,

Can you give an example transaction, please, details of your case? 

I usually see Use tax configured for items that are not inventory.  

For example, a company purchases a conference room table and the vendor did not charge tax, but should have charged tax… then we need to report Use Tax to the tax agency.

Thank you.

Laura ~ Klear Systems, Inc. Irvine, CA. ~ ⏩ https://www.augforums.com/episode130/
E
Rank
Userlevel 1

Hi @Laura02 ,

Thank you for your response.  It’s for a construction company that sells and rents equipment that moves from one location to the next.  If I get a different use case I will let you know, but this is the immediate one at this time.

Thanks,

Elise

iqraharrison48
Rank
Userlevel 7
Badge +6

@elisemorban11 how are you currently tracking the sales and rental agreements between the locations in acumatica? is it via sales order or maybe PO/subcontract agreement?

Iqra ~ If a member helped you, please *Like* their post. If a member provided an answer to your question, please mark it as *Best Answer*.
Heidi Dempsey
Rank
Userlevel 7
Badge +2

@elisemorban11  Thanks for your question.  To clarify, the customer is using Inventory to track their equipment, not the equipment module? 

E
Rank
Userlevel 1

@iqraharrison48  Since it’s a construction company, I will assume that they will be using the PO/subcontract agreement.

E
Rank
Userlevel 1

@Heidi Dempsey  we have not implemented this customer, we are trying to find out if we can support them.  Is there an equipment module?

 

E
Rank
Userlevel 1

Also, is there a way to make it work where  the customer is taking goods out of inventory and moving them to a job site.  Would this work with PO/subcontract ?

Chris Hackett
Rank
Userlevel 7
Badge

Hi @elisemorban11 were you able to find a solution? Thank you!

Chris ~ Let us know how we're doing: https://forms.office.com/r/xmJUdZ1QE5 - A member helped you, please *Like* their post. A member provided an answer to your question, please mark it as *Best Answer*.
Laura02
Rank
Badge +18

Hello @elisemorban11 ,

Inventory materials may be issued to a project in Inventory Issues screen. As Heidi mentioned, Equipment may also be moved to a job site. 

Your original question was about Use Tax, which is calculated on purchased items, not on sold items.

Hope this helps you.
 

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ ⏩ https://www.augforums.com/episode130/

Reply


Terms & ConditionsCookie settings
About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved