A new feature has been added to ConnectWise that allows the user to specify the amount of tax that has been collected on the Expense Claim.
There are several statically defined Expense Tax Codes in ConnectWise. ConnectWise supports the use of multiple Tax Codes per record, however due to the nature of the mapping to the Wise-Sync Tax Codes, only one Tax Code can be specified for all expenses.
Wise-Sync provides for a simple link to the Tax Code specified in the Expense Settings. When a user specifies that tax has been applied, then the tax code set in Wise-Sync will be provided as the corresponding Tax Code in your accounting package. This will then allow for the tax to be calculated based on the tax specified in your accounting package. If the taxes do not calculate correspondingly, then a validation Error will be displayed.
ConnectWise Expense Tax CodesPlease note that these expense tax codes are different to the Sales Tax Codes specified in ConnectWise. The Expense Tax Codes CANNOT be updated or changed from the list below.
You do not need to do anything to enable this feature, by simply adding Tax to an Expense, the following will occur:
- The Total is taken to include Tax, where the sub-total is then the less tax amount.
- Wise-Sync will match the Tax Code to the one specified in the Company Settings (#6 above).
- The Expense amount is then calculated from the "Sub Total Excluding Taxes" and the expense is deemed by Wise-Sync to be entered as "Exclusive of Tax"
- The expense will be created in the accounting package, and the Tax will be added to the Exclusive Tax Amount, at the rate specified in your Accounting Package.
- If the total amount of the expense in your accounting package matches the total amount of the expense in ConnectWise. The record is considered valid.
5.1. If the totals do not agree, then a Tax Validation warning is displayed "Validation Error: Expense Tax Mismatch" . If the records cannot be validated as a non-standard calculation is required, then we recommend that you remove Tax from the expense in ConnectWise.
5.2 Once the tax is removed from the expense in ConnectWise. The record will post and update accordingly.