Set up sales tax reporting codes
Sales tax reporting codes refer to a field number on a sales tax report. Dynamics 365 Finance uses these codes on country or region-specific report layouts and the Sales tax payment by code report to print sales tax amounts for a settlement period that it summarizes for each reporting code.
After you create sales tax reporting codes, you can refer to them on the Report setup FastTab on the Sales tax code page.
The system uses this layout to filter the available reporting codes for a sales tax code. Each sales tax code belongs to a settlement period that belongs to a sales tax authority that uses a report layout.
After you pay the sales tax, the system should balance the sales tax settlement account balance against the bank account.
If the sales tax authority specified on the sales tax settlement period relates to a vendor account, the system posts the sales tax balance as an open vendor invoice and you can include it in the regular payment proposal.
The following image shows a sample of the Sales tax reporting codes report.
