What does the Regenerate Taxes Utility do in Microsoft Dynamics GP?
(Microsoft Dynamics GP menu >> Tools >> Utilities >> Company >> Regenerate Taxes)
The purpose of this tool is to update transactions in work status if the Tax Detail ID has been changed since the transactions were keyed. This utility will apply the changes to the Tax Detail ID to the transactions in work status so you don't have to delete and rekey them.
You can use this feature on the following modules:
- Sales Order Processing (SOP)
- Receivables Management (RM)
- Purchase Order Processing (POP) – Invoicing (Note: Taxes are not regenerated for purchase orders in the Purchase Order Processing module.)
- Payables Management (PM)
To regenerate taxes:
**Ensure that you have a current backup of your Company database before regenerating taxes.**
1. Make your change to the Tax Detail ID and save it.
2. Open the Regenerate Taxes window. (Microsoft Dynamics GP menu >> Tools >> Utilities >> Company >> Regenerate Taxes)
3. Select the Module for which to regenerate taxes.
4. Select the range of Batches for which to regenerate taxes using the FROM and TO drop-down lists.
5. Click Insert to insert the selected range of batches in the Restrictions list.
Note: Click Remove to remove range of batches from the Restrictions list as needed.
6. Click Process to regenerate taxes with the tax percentage or amounts for transactions that are saved in the selected batches.
7. You are prompted with You may want to backup your database before regenerating taxes. Do you want to continue? Click Yes to continue, or No to cancel the process.
8. Print the Tax Correction Report and Tax Correction Exception Report to the screen, printer or file as desired, or click Cancel to not print the reports.
9. Exit out of the Regenerate Taxes window, or click Cancel to close the window.
10. Print an Edit List of the Batch(s) to verify the changes, before posting the batch.