You are implementing Dynamics 365 Finance. Sales tax payable must be posted to the same collection of accounts across all legal entities. You need to configure the sales tax. What should you use?

The correct answer is A. Posting group. You can set up Ledger posting groups for sales tax. Sales tax is calculated and posted to main accounts that are specified in Ledger posting groups. Ledger posting groups are attached to each sales tax code. You can set up individual ledger posting groups for each sales tax…

Set up and configure financial management

Question

You are implementing Dynamics 365 Finance. Sales tax payable must be posted to the same collection of accounts across all legal entities. You need to configure the sales tax. What should you use?

Options

APosting group
BTax jurisdiction
CUse tax payable account
DTax group

How the community answered

(42 responses)

A
88% (37)
B
2% (1)
C
2% (1)
D
7% (3)

Explanation

You can set up Ledger posting groups for sales tax. Sales tax is calculated and posted to main accounts that are specified in Ledger posting groups. Ledger posting groups are attached to each sales tax code. You can set up individual ledger posting groups for each sales tax code, use one ledger posting group for all sales tax codes or assign multiple ledger posting groups to the sales tax codes. https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/tasks/set-up-ledger- posting-groups-sales-tax

Topics

#sales tax#posting group#legal entities#tax configuration

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