F330 Sales Taxes (CPE)

For information on CPE credits, please see the Continuing Professional Education section.

Registration URL: https://webinar.ringcentral.com/webinar/register/3417169085441/WN__2MEBNb_S72ESgQTH-FTEg

Audience: This webinar is intended for implementation consultants of the finance functionality of Acumatica ERP.

Acumatica ERP Experience Required: at least 1 year

Who Should Attend (relationship to Acumatica):

• Partners who implement Acumatica ERP finance functionality for customers
• Professionals who want to learn Acumatica ERP

Acumatica ERP version: 2024 R1

Training Description: This webinar illustrates the basic tax management processes in a midsize company as well as the configuration that underlies this processing.

Training Syllabus: The program is covered over four days as follows:

• Day 1: Configuring the Tax Functionality. In this session, you will learn how to create a tax agency in Acumatica ERP, create and configure a tax report, create a tax zone and a tax category, review the tax categories existing in the system, and assign tax categories to non-stock items. You will also learn how to configure sales taxes to be used in AR and AP documents, create an AR invoice with a sales tax applied, release the AR invoice and review the GL transaction generated by the system, process an AR invoice with a cash discount and a sales tax applied, and pay an invoice within the cash discount period and review the GL transactions generated by the system.
• Day 2: Processing Documents with Sales Taxes. In the second session, you will learn how to create a cash entry and apply a tax to it automatically in Acumatica ERP, perform a funds transfer between two cash accounts and how to record a taxable bank fee for this transfer, create and release a credit memo, and analyze the GL transaction created by the system. You will also create an AP bill with a sales tax applied, release the AP bill and review the GL transaction generated by the system, learn how the system updates the costs of various types of items, configure a tax to be included in the cost of purchased items, configure a tax reason code for tax-related inventory adjustments, process a purchase of items, review the inventory adjustment transaction that updated the item cost, review the GL transaction generated by the system.
• Day 3: Processing Documents with Inclusive Sales Taxes. In this session, you will learn how to configuring taxes with different calculation methods and analyzing how the system applies these taxes to a document, configuring and applying a second-level tax (optional), create an inclusive sales tax, create a taxable AR invoice with an inclusive document-level sales tax applied, and process the invoice and review the GL transaction generated by the system. Also, you will learn how to update the settings of an inclusive sales tax, create a taxable purchase order with an inclusive document-level sales tax applied, and process the purchase order and the AP bill that corresponds to it, and review the GL transaction generated by the system.
• Day 4: Paying Taxes to a Tax Agency. Processing Documents with Use Taxes. In this session, you will learn how to prepare a tax report for a particular company and tax agency for an open tax period, void a tax report that has been prepared for a particular company, create any documents that are missing in the system, and again prepare the tax report, and create a tax adjustment to a tax report. Moreover, you will learn how to release a tax report and generate an AP bill for the tax agency, configure a use tax that can be used in AP documents, purchase orders, expense receipts and claims, and cash disbursements, create an AP bill with a use tax applied, release the AP bill and review the GL transaction generated by the system, and prepare a new revision of a tax report and review the difference in the tax report revisions.

Date and time: This training meets the following four times, and attendees are expected to attend all four sessions:

• Mon, July 8, 2024 10:00 AM - 11:30 AM PT
• Tue, July 9, 2024 10:00 AM - 11:30 AM PT
• Wed, July 10, 2024 10:00 AM - 11:30 AM PT
• Thu, July 11, 2024 10:00 AM - 11:30 AM PT

*To provide a cloud instance for attendees, we need to generate a registration report and perform some activities to deploy the instance and send out the credentials. All this takes time and we have to do it several hours before the webinar. So we highly recommend not leaving the registration up to the last minute of the webinar start. Everyone who registers after 6 AM PT of Day 1 session will not receive the link to the cloud instance and credentials for it and will have to attend a webinar in a view-only format.

Partner Certification: This webinar is based on the materials of the F330 Sales Taxes course, which is part of the Advanced Financials badge. Completion of this class does not give you an automatic completion of the related course at Partner University; you will still need to complete the exam at Partner University.

Instructor: Terry Sharp

Terry has 20 years of experience in the ERP and Accounting software industries. During his career, Terry has provided Consulting expertise in Support, Training, Data Migrations, and Implementations across multiple verticals. Terry’s primary areas of expertise are Distribution, Manufacturing and Finance.

Prerequisites­

For this webinar, attendees are expected to complete the F100 Financial Basics course and be familiar with the basic and advanced business processes that can be performed in the General Ledger, Cash Management, Accounts Receivable, and Accounts Payable subledgers.

Advance Preparations

None. Attendees will be provided with a cloud instance and tenant for training purposes.

Training Materials

Please download the following training guide: F330_Sales_Taxes_2024R1.pdf that you will need for the training.

Continuing Professional Education

• Program knowledge level: Intermediate
• Delivery method: Group Internet based program*
• NASBA field of study: Computer Software & Applications
• Maximum number of CPE credits that may be earned by the participant: 4

Due to this program being offered free of charge, there will be no refunds issued. If you have any questions, please feel free to contact us at training@acumatica.com.

* We offer CPE credits for this course if you attend the course in the format of online instructor-led RingCentral session. During the session, we measure your attentiveness by using polling questions at random times. We provide the certificate if you have answered polling questions during the session. To get the certificate with the confirmed CPE credits, please send a request to training@acumatica.com after the session is complete.

National Registry Statement

Acumatica is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.