Can anyone shed some light on how you handle sales tax on purchased parts? We are a manufacturer so parts we buy and resell and parts that go into making our mfg parts are tax exempt. But other parts, such as office supplies, should be taxed. We pay this sales tax to the supplier. I see a Taxable checkbox on the PO Line but it seems its only function is to print Taxable Yes/No on the PO form. In your business, is it a Purchasing function to determine if parts should be taxable? Does this taxable checkbox do anything else? How is the Accounting end of things handled? I see you can set up a Tax Region at the Supplier level that will default AP Invoices to the region. Should Accounting bear some responsibility in determining we are charged/paying sales tax correctly? How does Vantage handle this on the AP side? I guess I am mostly wondering what other peoples' business processes are, how Vantage works natively and if anyone has streamlined this process so that Purchasing does not have to enter this info on each PO Line.
Thanks in advance,
Aimee
Thanks in advance,
Aimee