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Note: When you activate System Option 271 (“Pay Tax as Reported on Invoice”) with PENTA System Option 152 (“Tracking Sales & Use Tax on AP Transactions”) PENTA:
- Ignores vendor registration Vendor Registration requirements. PENTA pays the sales tax Sales Tax you enter on an AP invoice to the invoice vendor. An exception condition is when you charge an AP invoice to a job Job marked as “Direct payment of sales Sales & use taxUse Tax.” A job Job marked as “Direct payment of sales Sales & use tax” Use Tax” causes PENTA to accrue all tax amounts to the tax jurisdiction vendor.
- Accrues (to the appropriate use tax liability account) the difference between the sales tax Sales Tax charged and included on the vendor’s invoice and difference exceeding the “Sales & Use Tax Variance Limit”—a user-defined variance entered via System Option 154.
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