You can choose to have Tax amounts calculated and posted to a temporary general ledger account when an invoice is posted, and then posted to the correct general ledger account and included in Tax statements when the actual payment of the invoice is posted. Before you can do this, you must complete the Tax posting setup.

To use accounts for unrealized Tax

  1. In the Search box, enter General Ledger Setup, and then choose the related link.

  2. In the General Ledger Setup window, on the General FastTab, select the Unrealized Tax check box.

  3. Close the window.

  4. In the Search box, enter Tax Posting Setup, and then choose the related link.

  5. In the Tax Posting Setup window, to view the options, choose the Unrealized Tax Type field, and then select an option that determines how unrealized Tax will be handled.

  6. In the Sales Tax Unreal. Account field, enter the general ledger account for unrealized sales Tax.

  7. In the Purch. Tax Unreal. Account field, enter the general ledger account for unrealized purchase Tax.

Important
The first <Blank> option is the default value of the field. This means that unrealized Tax is not used. You can select one of the other options only if the Unrealized Tax field in the General Ledger Setup window is selected.

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See Also