How would The Business Edge handle the following?
A customer remits a payment and the amount is different from the invoice total because of sales tax. What is your process to correct the following differences that impact the customer invoices balance and the sales tax returns for those invoices in the following circumstances:
- We charged sales tax on the invoice but this sale for the customer is exempt, so they paid no tax
- We did not charge sales tax but they do owe and they did remit it
- We charged them sales tax for one jurisdiction at one percentage rate but they remitted payment for a different rate in different jurisdiction?
Using a Non-Stock Product and adjusting invoice is created with 2 line items one representing the sale amount with the incorrect tax authority and the other representing the sale amount with the correct tax authority.
The invoice total will be either a positive or negative invoice for the tax discrepancy. This method ensures that the transaction shows properly on the sales tax reports produced by the system.