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Sales tax report setup questions-exempt sales-interest income not showing in tax report

  • 28 June 2023
  • 6 replies
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  • epan
  • Jr Varsity II
  • 14 replies

Hi there,

I’m working on Sales tax/HST report. one of the exempt tax sales item (-bank interest income )was not showing in the report. Could you advice how can we add the total to exempt sales total line item? Thank you. 

  1. interest income bank entry -->stated exempt tax
  2. Tax report do not include interest income in exempt sales items:

     

  3. reporting Group for exempt sales;

     

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Best answer by epan 13 July 2023, 22:46

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Laura02
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Hello @epan ,

I see the Transaction is posted to financial period 07-2023:

The Tax Details Report is printed for Period 02-2023. Perhaps the transaction is in the wrong period and will show on the tax report in period 07-2023?

Laura

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
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Hi Laura, 

May 2023 is in Tax period 02-2023 & Financial period 07-2023. The period is correct. I’m think may be the bank entry activities not included in sales tax report? Could that be a reason? As bank interest income posted through bank entries not in AR, AP or GL module. 

 

Laura02
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Hello,

I have not seen a customer yet who needs to report Sales tax on Bank Interest.  I can’t be sure of the answer.  I think Acumatica, your partner, or someone with a similar need to report Sales Tax on Bank Interest will need to help answer your question. 

Good luck!

Laura ~ Klear Systems, Inc. Irvine, CA. ~ Please remember to "Mark Best Answer" to help those who are facing the same problem.~
Chris Hackett
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Hi @epan 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*.
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Hi @epan were you able to find a solution? Thank you!

Our partner found out the solution. Thank you. 

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@epan Can you share the partner’s solution?

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