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Use this program for compensating (comp) tax preparation by selecting qualifying AP invoices that have been paid and updated, where comp tax is due. You may then generate an Accounts Payable invoice, designating the Department of Revenue as the vendor. The invoice may then be updated and paid along with other invoices.
A qualifying invoice has the following characteristics:
The vendor invoice includes comp tax.
The vendor invoice has been paid and the payment has been updated, but the comp tax has not yet been included on an invoice generated for the Department of Revenue. The Invoice Status is "H" for a historical invoice that has been paid and posted.
The invoice Cash Account is the same as the selected cash account.
If an Invoice Cutoff Date has been specified on the screen, the invoice date is on or before the Cutoff Date entered on the selection screen.
The comp tax invoice is created when GEN INV is clicked from the Comp Tax Selection screen. Once generated, field values may be viewed, but not changed.
A separate invoice will be generated for each fund if your district allows only one fund per warrant. (This district setup may be done in Systems Admin in the District Wide Settings screen by selecting "No" for the Multiple Funds field. You must have System Administrator access to perform this setup.)
Page Updated 4/07