Tax date
There must be an
option to specify invoice date, prepayment date, delivery date, or another date as the tax
date. The tax date is different than document, accounting, and transaction dates. The tax date
primarily affects accounts receivable and accounts payable invoices, credit notes, debit
notes, and AR and AP corrective transactions.
How Infor meets this requirement
In SyteLine, you can enter a tax date that is different from the invoice date for some A/R and A/P transactions. For invoices that use foreign currency, the exchange rate is updated based on the tax date (unless the customer or vendor is set up to use a fixed rate). This only affects VAT reporting and not printed invoices or vouchers.
| Application | Setup or Actions |
|---|---|
| ERP | See About VAT tax dates and exchange rates. |