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Can anyone provide insight on how they would use the Tax Clearance Voucher to include postings to a Collection Allowance account? I was thinking about using an automatic posting rule to split off the discount after doing the tax clearing.

What is a Collection Allowance?

In the U.S., when Sales/Use Tax for certain states is remit to the state on a timely basis, a discount can be taken. This discount is called a Collection Allowance. 

 

Looking forward to hearing from the community.

Thank you in advance.

Liz

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