Description
The proforma remittance functionality has been enhanced so that, for VAT/GST registered contractors, sales tax (VAT/GST) is calculated on taxable items when the proforma remittance document is generated at the point when the corresponding timesheet is released from the Interpreter for pay processing.
On the proforma remittance document, the VAT/GST amount that has been calculated when the document is generated is shown in the Tax Amount field at the pay item level and those amounts are also included in the Tax Total field at the document totals level.
Definition of a VAT/GST Registered Contractor
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By contrast, if a manual pay item is added to the contractors pay when the contractor is paid in a pay batch, the system references the payee validity period that corresponds to the timesheet period to determine if the payee is VAT/GST registered and therefore if VAT/GST is to be calculated. In some infrequent scenarios, such as where the contractor may not be registered … |
Benefits
This enhancement allows the proforma remittance functionality to be used to generate documents that meet the definition of a valid tax invoice when issued to a VAT/GST registered contractor. In turn, that allows the pay company to claim the VAT/GST that is paid forward to the contractor at the time when the proforma remittance is generated without the need to wait until the contractor is paid.
For other enhancements in this release that facilitate using the proforma remittance functionality to generate tax invoices, see …
Configuration
No configuration required.
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