- Adjust the Tax Rate on the Sales Order (info tab) to the FINAL rate.
- Check to make sure the RFP Invoices already created match the Payment Schedule totals, if not, adjust the Payment Schedule Totals to match the actual RFP Invoices.
- If there are remaining payments scheduled, simply adjust those to fit the new total. If there are not remaining payments scheduled, you can add a payment for the remaining balance (positive or negative)
- Positive Payments are left – great, simply follow normal procedures from here on.
- Negative Payments are left – These will convert to Credit Memos which can then be used to Refund the balance. (THIS WILL NOT WORK with Negative AR Accounting as you cannot have a negative RFP)
Note: if the Rate Changed in the middle of the Sales Order, and you have Delivery invoices using the old rate, your Delivery Invoice Total and RFP Total WILL NOT MATCH. This is OK, but to prevent that imbalance from affecting your liability account, you must add an adjustment line to your RFP invoice for the difference in the tax amount for those RFPs.
- This would be calculated by calculating the tax rate for those invoices with the new rate, and subtracting that from the original tax rate.
- This amount will show as an over/under on the RFP totals, and the RFP Total will NOT show invoiced in full
- This amount will also show as a not invoiced amount on the delivery invoice screen. These should match