How to create a vendor & define it as a Tax Agency in Acumatica?

Overview: In order to create a Tax Agency, we’ll first create a vendor on the Vendors (AP303000) form, will specify the details of the vendor, select Vendor is a Tax Agency check box and populate the needed settings on the Tax Agency Settings tab. 

It can be created as follows: 

1. Create a Vendor on Vendors (AP303000) form. Select the Vendor Class as TAXAGENCY. Enter the required details on the form and save it. 
   

2. In order to set this vendor as a Tax Agency check-mark Vendor is a Tax Agency checkbox. This would enable the Tax Agency Settings tab. Save the form. 
   

3. Now to configure this Vendor as a Tax Agency, on the Tax Agency Settings tab define the following. 
   – Tax Payable Account: 24100(Tax Payable) 
   – Tax Expense Account: 65100(Other Tax Expenses) 
   – Default Tax Period Type: Month 
   – Automatically Generate Tax Bill: Check-marked 
   – Use Currency Precision: Check-marked
   

4. On the form toolbar, click on save button to save the record. Hence, the vendor has been configured as a Tax Agency. 
   

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