基于項目的稅收：簡化復雜性.pdf

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1、Project-based Taxes:Simplify the ComplexityEkaterina(Kate)Stepalina2Presented byEkaterina(Kate)StepalinaTechnical Product Manager,Projects&Construction3AgendaIntroductionProjects cost side:purchase orders and Accounts Payable(AP)billsSales tax and use taxBuilt-in rules vs integrated tax calculation(

2、Avalara)Capturing tax expenses in project balanceProjects revenue side:project billing and project invoices:pro forma invoice,Accounts Receivable(AR)invoiceSeparate revenue tax zone and cost tax zone of projectGross contract amounts in project quote,progress billing and project balanceInclusive tax

3、in case of retainageSummary and Key TakeawaysQ&A|Survey Completion4Business Need:Tax Accounting with Project Accounting SpecificsProject CostsPurchases can be multiple and frequent,requiring a lot of data entryIts important to capture all expenses,including the tax-related ones,on project for accura

4、te profitability reporting for each projectFinal tax on material purchase is calculated based on project address Project RevenuesDepending on contract with the client,conditions for tax calculation and invoicing may varySales/GST tax must be accurately calculated in the project invoiceBillings and r

5、evenue budget performance must be accurately calculated and presented in the project balance and reports5Project CostsSales tax and use tax calculation in purchase orders and AP billsPosting of tax expenses on projectIntegrated tax calculationExclusive and inclusive tax calculation along with net/gr

6、oss amount option at the AP document levelSupport for retainage and retained taxesProject RevenuesExclusive and inclusive tax calculation across projects revenue budget,invoices,actuals,WIPSupport for retainage in either tax calculation modeSupport for retained taxesIntegrated tax calculationTax acc

7、ounting in Acumatica6CPE DisclaimerThis session is NASBA-compliant,and you may get 1 CPE credit if you fulfill the following requirements:Participate in at least one quizProvide your full name and email address when you complete a quizFailure to provide your full name and email address will result i

8、n Acumaticas inability to recognize you in our reports;thus,we will be unable to issue a CPE certificate for you.If you are not interested in getting the CPE credit,specifying your personal details is optional.Part 1:Project Drop-ship Orders and Accounts Payable8Part 1:Learning objectivesIn this ses

9、sion,you will learn to:Simplify the complexity of project-based taxes.Take advantage of project tax zones when working in multiple locations.See how tax configurations affect cost accounting.Review third-party integrations that reduce the errors to which manual entries are prone.9Use Case:1.1.Projec

10、t Drop-ship PO,Sales Tax In AP Bill1)Our construction company is building a hotel in Richmond,VA.2)Our purchasing department submitted a drop-ship purchase order for material to vendor AASERVICES.This vendor has presence in the same region,Richmond,VA.3)After the material was delivered,the vendor se

11、nt us the following invoice:Description Project material(fabric)Details$113.21 Sales tax(6%)$6.79 Invoice total due$120.00We need to process the AP bill with sales tax in Acumatica.Demo 1.1:Project Drop-ship Order to AP Bill with Sales Tax12Use Case:1.2.Standalone AP Bill with Sales Tax and Use Tax1

12、)Construction company is building a hotel in Richmond,VA2)Project manager bought a piece of material without creating a purchase order in the system.Material was received from vendor AAVENDOR,which operates in Harrisonburg,VA.3)Invoicing Description Project material(fabric)Details$113.21 Sales tax(5

13、.3%)$6.00 Invoice total due$119.21The project accountant wants to record the tax expenses incurred on material purchase to the respective project.We need to process the AP bill in Acumatica.In Richmond,VA,we must pay an additional use tax of 0.7%for this material,so the total tax will be 6%.We need

14、to make sure the GL transactions for tax expenses are recorded on the project.Demo 1.2:AP Bill with Sales Tax and Use Tax15Use Case:1.3.Project Drop-ship PO,Integrated Sales Tax Calculation In AP BillSimilar to Example 1,we can use AvaTax integration.1)Our construction company is building a hotel in

15、 Richmond,VA.2)Our purchasing department submitted a drop-ship purchase order for material to vendor AASERVICES.This vendor has presence in the same region,Richmond,VA.3)Invoicing Description Project material(fabric)Details$113.21 Sales tax(6%)$6.79 Invoice total due$120.00We can process the AP bill

16、 with sales tax in Acumatica.We do not have predefined tax rates in the system.18Use Case:1.4.Project Drop-ship PO,AP Bill has No Tax 1)Construction company is building a hotel in Richmond,VA2)Our purchasing department submitted a drop-ship purchase order for material to vendor ALPINEAIR.This vendor

17、 has no presence in Virginia.3)After the material was delivered,the vendor sent the following invoice:Description Project material(fabric)Details$113.21 Invoice total due$113.21We need to process the AP bill with use tax in Acumatica.We dont have predefined tax rates in the system,the use tax must b

18、e calculated for Richmond.Demo 1.4:Project Drop-ship Order,AP Bill has No TaxPart 1:Summary22Project as the Source of Tax Zone and Address for DocumentsCalculate Project-Specific Taxes on the Project Preferences form PM101010Enables:Revenue Tax Zone for project invoices(e.g.if you are doing multiple

19、 projects for the same customer,but in different locations;or if you are not charging sales tax)Cost Tax Zone for project drop-ship purchase orders and the following AP documents for easier sales tax or use tax entry23Tax Calculation in PO and APDocument1.Built-in Rules2.Integrated(Avalara)Calculati

20、on based on Tax ZoneCalculation based on AddressProject drop-ship order1.1 Tax zone in order(from project)2.1 Ship-to address in order(from project)Project drop-ship orders AP bill1.2 Tax zone in AP bill(copied from order)2.2 Ship-to address of the order to which the AP bill lines referStandalone AP

21、 bill1.3 Tax zone in AP bill(from vendor)2.3 AP bills header branchs main address(not delivery address)Normal purchase order1.4 Tax zone in order(from vendor)2.4Address of the warehouse in the order line,if multiple warehouses are OFF ship-to address of the orderNormal purchase orders AP bill1.5 Tax

22、 zone in AP bill(from vendor)2.5Address of the warehouse in the purchase receipt line,without receipt-address of the warehouse in the order line,if multiple warehouses are OFF ship-to address of the order1.Calculate Project-Specific Taxes on the Project Preferences form PM101010-ON 2.Require Single

23、Project per Document on Accounts Payable Preferences AP101000-OFF NOTES:If Calculate Project-Specific Taxes is OFF,the projects tax zone and address are not populated in project drop-ship orders.If both Require Single Project per Document and Calculate Project-Specific Taxes are ON,project is used a

24、s the source of tax zone in 1.3-1.5 as well as the source of address in 2.3-2.5 above.24AP:Posting Sales Tax and Use Tax to a Separate GL Account for More Accurate Profitability of the ProjectCreate a dedicated expense account(e.g.81000)and include the account in a project account group(TAXEXPENSE)S

25、pecify the account in the tax ID on the Taxes form TX205000Depending on contract,re-invoice these expenses:in the billing rule,add a“Time and Material”step to collect the transactions posted to TAXEXPENSE account group25PO and AP Capabilities1.Process a project drop-ship purchase order(PO),and the A

26、P bill with sales tax calculated based on projects cost tax zone2.Flexibly capture sales and use tax in a standalone AP bill3.Post sales tax expenses and use tax expenses from AP bill to project4.With integrated tax calculation(AvaTax),process a project drop-ship order,and the AP bill with sales tax

27、 calculated based on project address5.With integrated tax calculation(AvaTax),process a project drop-ship order,and the AP bill with use tax calculated based on project addressPart 1:QuizPart 1:QuizScan the QR code to participate in the quiz.To receive CPE credit,you must include your full name and

28、email address at the end of the quiz.28Part 1:Question Explanation:Purchase Orders And AP DocumentsQ:How can Acumatica help you manage the complexity of tax accounting with project accounting specifics?1.In AP documents that originate from project drop-ship purchase orders,the tax zone that drives t

29、he calculation of the sales tax or use tax in the document can come from the project.2.With external tax calculation(for example,Avalara),the project address can drive tax calculation in project drop-ship orders and the subsequent AP documents.3.With either built-in or external tax calculation(for e

30、xample,Avalara),the tax expenses can be recorded to project balance.4.CORRECT ANSWER:All of the above.Part 2:Project Billing and Accounts Receivable30Part 2:Learning ObjectivesIn this session,you will learn to simplify calculations and workflows when billing line-level,document level,retainage,and G

31、ST taxes.In particular,you will learn the following:1.Create a project quote with gross contract amounts(which include tax)2.Perform progress billing from revenue budgets gross amounts and review:1.Inclusive tax in pro forma invoice,printed forms and progress bill report2.AR invoice with retainage a

32、nd inclusive tax,tax is not retained3.Project balances:Actual Amount,Inclusive Tax Amount.Performance%4.Billings in the WIP report5.Tax accounting in retainage invoice3.Apply the retained tax option,if necessary31Tax Calculation in Project InvoicesExclusive:calculate on top of the revenue budget amo

33、unt which is treated as net.Tax is not reflected in the project balance.Inclusive:treat the revenue budget amount as the amount with tax.Tax is collected in the project balance.-Available starting 23R2Both Options:Progress billing is supportedTime and material billing is supportedPro forma invoice i

34、s supported Integrated tax calculation is supported(e.g.AvaTax)32Use Case:2.1.Project Quote with Gross Contract Amounts1.Project manager prepared a quote for a hotel construction project in Chicago,IL2.Company won the deal,now manager needs to create the project in AcumaticaWe need to create a proje

35、ct in Acumatica with the schedule of values for billing.Demo 2.1:Quote and Project with Gross Contract Amounts35Use Case:2.2.Progress Billing from Gross Contract Amounts Need to create the first invoice that constitutes 10%of the first three lines of the revenue budget.Print AIA,review WIP report.Sa

36、les tax 10.25%Net amount+tax$1,554,525.00Net amount$1,410,000.00Tax on net amount$144,525.00Retainage 10%$141,000.00Tax on retainage$144,52.50Demo 2.2:Progress Billing From Gross Amounts38Retain Taxes OptionIn some contracts,the tax amount calculated on the retainage amount can also be retained and

37、captured at the time of the retainage invoice instead of the original invoiceThere is Retain Taxes option on Accounts Receivable Preferences AR101000 to achieve such behaviorThe following table illustrates different options in Acumatica.39Inclusive Tax Combined with Retain Taxes OptionNon-retained E

38、xclusive TaxRetained Exclusive TaxOriginal invoiceOriginal invoiceInvoice Due1413525Invoice Due1399072.5Tax Total144525Tax Total130072.5Retainage invoiceRetainage invoiceInvoice Due141000Invoice Due155452.5Tax Total0Tax Total14452.5Total Invoiced1554525Total Invoiced1554525Tax Total144525Tax Total14

39、4525Non-retained Inclusive TaxRetained Inclusive TaxOriginal invoiceOriginal invoiceInvoice Due1399072.5Invoice Due1399072.5Tax Total144525Tax Total130072.5Tax calculated on retainage is included in the retainage invoice dueRetainage invoiceRetainage invoiceInvoice Due155452.5Invoice Due155452.5Tax

40、Total0Tax Total14452.5Total Invoiced1554525Total Invoiced1554525Tax Total144525Tax Total144525Part 2:Summary41Acumatica 23R2 and Later:Inclusive Taxes in Project InvoicesProject quote with gross revenue budgetIf you have a project quote with gross amounts,this quote can now be converted to a project

41、 with the respective gross revenue amounts.Pro forma invoice with inclusive taxes(Important for Canada and other countries using GST/VAT taxes)If you do time&material billing with prices that already include tax,now you can use pro forma invoice for project billing(previously,you had to use the dire

42、ct AR invoices).A mix of time and material and progress billing will work too.Retain Taxes option is availablePart 2:QuizPart 2:QuizScan the QR code to participate in the quiz.To receive CPE credit,you must include your full name and email address at the end of the quiz.44Part 2:Question Explanation

43、:Project BalanceQ:If you use gross amounts in the Revenue Budget lines of Projects PM301000,can you see the revenue amount and the tax amount in the project balance?CORRECT ANSWER:#2The revenue amount is included in the value in the Actual Amount column,while the tax amount is calculated in the sepa

44、rate Inclusive Tax Amount column.Summary and Key Takeaways46Project CostsSales tax and use tax calculation in purchase orders and AP billsPosting of tax expenses on projectIntegrated tax calculationExclusive and inclusive tax calculation along with net/gross amount option at the AP document levelSup

45、port for retainage and retained taxesProject RevenuesExclusive and inclusive tax calculation across projects revenue budget,invoices,actuals,WIPSupport for retainage in either tax calculation modeSupport for retained taxesIntegrated tax calculationTax accounting in Acumaticaand all of the above with

46、 application to multi-currency international projects!47Keep in touch!No Reliance This document is subject to change without notice.Acumatica cannot guarantee completion of any future products or program features/enhancements described in this document,and no reliance should be placed on their avail

47、ability.Confidentiality:This document,including any files contained herein,is confidential information of Acumatica and should not be disclosed to third parties.Kwiat 18K Diamond Pendant NecklaceSaddleback Leather Flight Bag BriefcaseWe want your feedback.Q&AEvery survey completed=an entry to win!Cl

48、ive Coffee Lucca A53 Mini V2Espresso MachineComplete a survey in the Summit app for an entry to win one of these awesome customer prizes!Ekaterina(Kate)SAdditional References49AP:If Some Vendors Send Bills With Net Amount,Some Others With Gross AmountThe feature might be helpful in countries where G

49、ST/SST/VAT taxes apply(e.g.Canada,Malaysia)to avoid the need to set up a pair of tax IDs and have a more complex tax report configurationEnable Net/Gross Entry Mode on Enable/Disable Features CS100000Tax mode can be changed at the document levelThe mode is available on Bills and Adjustments AP301000

50、,Expense Receipts EP30102050Tax Zone Source For Project Invoices(Revenue Side)Built-in tax calculation:if on Project Preferences PM101000,Calculate Project-Specific Taxes option is ONProject,if Revenue Tax Zone is specified on the Addresses tab,Projects PM301000OtherwiseCustomer Location of the proj

51、ect invoice,if anyOtherwise,Branch of the project invoice header,if anyEmptyCalculation of taxes using the external tax provider:The projects address is populated as ship-to address in pro forma invoice and AR invoice and used for tax calculationInclusive/exclusive type of calculation is configured

52、in tax provider(AvaTax)51Tax Ids in Financial DocumentsTax ID defines the tax rate and applies to an intersection of tax category in the document line and tax zone in the document.Calculation Rule=“Exclusive”or“Inclusive”defines whether the line amount is treated as net or gross respectively.Calcula

53、tion Rule=“Line-Level”or“Document-Level”defines rounding of the tax amount-that is,whether the tax amount is calculated using each lines taxable amount or using the sum of the taxable amounts of a group of lines.In case of integrated tax calculation,the third-party system creates tax IDs in Acumatica.Third-party service calculates taxes based on the provided address(see the slide for details).52Additional ReferencesMore info on tax calculation options in purchase orders and AP