Tax rate effective dates

Discussions relating to version the "old" version 7 of Jiwa

Tax rate effective dates

Postby pricerc » Tue Aug 03, 2010 1:01 pm

Highlighted by the NZ government's decision to change the GST rate in a couple of months.

It would be really cool to be able to specify a future new rate as soon as the information becomes available, and have it automatically pick the correct rate for a transaction based on the transaction date.

Would require less coordination with clients to ensure they get the correct rates working on the right day.

I imagine it would work in a similar fashion to the FX system (only not changing as much).

/Ryan.
/Ryan

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Re: Tax rate effective dates

Postby Mike.Sheen » Sun Aug 08, 2010 8:43 pm

pricerc wrote:Highlighted by the NZ government's decision to change the GST rate in a couple of months.

It would be really cool to be able to specify a future new rate as soon as the information becomes available, and have it automatically pick the correct rate for a transaction based on the transaction date.

Would require less coordination with clients to ensure they get the correct rates working on the right day.

I imagine it would work in a similar fashion to the FX system (only not changing as much).

/Ryan.


Ryan,

Yep - I had a "war room" meeting a couple of weeks back over this. My thoughts at the end were precisely the same as yours - add to version 7 the ability to add new tax rates seamlessly.

Kinda tricky, though - the NZ legislation says the new tax rates are to be based on the date of delivery - not sale - so there's some thought needed on when the new rate applies - some customisable logic - so you can handle either invoice or delivery date, or some other date the bean counters dream up :)
Mike Sheen
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Jiwa Financials

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