Tax and Global

Get Involved. Join the Conversation.

Topic

    ERPNewbie
    Updated the tax rate but the AR transaction tax rate has not...
    Topic posted October 7, 2019 by ERPNewbieRed Ribbon: 250+ Points, tagged Configuration, Financials, Help Center, Receivables, Setup / Administration, Update 
    23 Views, 1 Comment
    Title:
    Updated the tax rate but the AR transaction tax rate has not been update
    Summary:
    Updated the value of the tax rate setup for one country but the transaction (invoice) tax amount did not update
    Content:

    We have created a future dated transaction that has a tax rate (standard tax). However the tax rate setup was incorrect so we updated the tax rate with start date as current date.

    Now we have check the transaction again but it's not reflecting the newly updated tax rate even though the transaction date is future dated.

     Is there a job/process that needs to be run to reflect the correct tax?

     

    Thank you!

    Comment

     

    • Desh Deepak

      Is it unclear if you did re-calculation of tax for the invoice? Configuration change does not cause existing transactions tax calculation automatically. You have to do it. For AP, you would have to re-validate invoice, for AR you would have to incomplete and complete the invoice.