Canadians know adopting an automated platform to streamline the reimbursement of employees’ out-of-pocket expenses is only half the battle. The search for automation is complicated by the need to report the various Canadian Goods & Service Tax (GST) to ensure they are able to take advantage of available tax credits.
The flexibility of DynamicPoint’s SharePoint Expense Management application supports these tax laws with functionality that allows for the data collection of GST, PST, QST and/or HST taxes.
Aside from the data collection during the creation of the expense report, the tax amounts must be recorded to specific GL accounts. Therefore upon approval of the expense report not only is the employee reimbursed for their out of the pocket expenses with the creation of an invoice but additionally we automatically record tax entries to the appropriate GL accounts.
Watch this short 3 minute video to see how simple the user interface is for your employees to create an expense report notating the various Canadian taxes along with the integration to Dynamics.
by Mike Marcin, DynamicPoint – SharePoint Expense, Invoice & Requisition Management applications built exclusively for Dynamics GP & NAV.