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Dynamics CRM is a Management System for Customer Relations. And the management of operations related to billing with CRM is really a complex and complicated job because it is not an accounting / billing system! Although the CRM system offers a basic billing flow, complex system customization in CRM is sometimes required to cover the entire billing lifecycle.
We have a requirement in one of our Dynamics CRM / “Dynamics 365 for Sales” configurations to add a handle to the invoice entity form that will calculate the VAT amount based on the percentage value provided by the billing / sales department.
By default, there is no way to manage the VAT amount for the CRM invoice based on a defined percentage value. Our basic objective is to achieve a functionality in which the sales person has the ability to enter a% VAT in a field and, based on that, a VAT ERP Sadui Arabia calculate (added in another custom / incorporated field) automatically and after saving / recalculate The VAT amount of the invoice added to the total amount of the invoice.
VAT configurations in Dynamics
VAT is a tax on the end user that is applied to the sales of goods and services subject to taxes at different rates. VAT agencies must add the tax to their sales invoices (production tax) but they can recover the tax on their purchases, where VAT is applied (entry tax). There is a legal obligation to render clear VAT accounts in external documents and in company records. Needless to say, it is up to the company to collect the production tax from its customers.
Consumers and businesses pay value added taxes (VAT) when they buy goods or services. The amount of VAT to pay may vary, depending on several factors. In Dynamics 365, you set the VAT to specify the rates that will be used to calculate the tax amounts based on the following:
- Who do you sell to
- Whose purchases
- What do you sell
- What do you buy
You can set up VAT calculations manually, but that can be complicated and time-consuming. To make it easier, bilytica provide an assisted with VAT Enabled ERP Software Solutions that will help you with the steps. We recommend that you use the assisted configuration guide to set the VAT.
