R12.1.3 - Tax on Prepaid Packages
We are on R12.1.3. We use Deposit transactions for prepayments. In our business in Canada there is a requirement to assess tax at the time of sale. This results in tax having to be calculated and paid at the time of the prepayment and not when the services are consumed. To remedy this there needs to be a tax call on Deposit transactions, and rules setup, to not assess tax when the invoice is generated and applied against the deposit. Today this is all done manually and is causing our company a lot of work hours to remain compliant with
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