Trying to get your employees to complete expense reports in a timely manner can be challenging, especially when your team is using outdated software or manual processes.  However, when you finally get their expense reports, that’s when the real work begins.  Making sure that an employee’s expenses are coordinated with the general ledger properly and including proper accounting for the multiple Canadian Goods and Services taxes (GST), can be time-consuming and confusing unless you have a powerful enterprise resource planning (ERP) solution, such as Microsoft Dynamics® GP or Microsoft Dynamics® NAV, and SharePoint Expense Management by DynamicPoint.

Watch this short video, “DynamicPoint Expense Management – Canadian Tax,” to see how easy it is to complete an expense report and comply with various Canadian tax obligations.  Employees can create a new expense report for a conference, for example.  They can then enter the receipts for expenses that may have been incurred for that event.  The Expense Management solution can auto-calculate applicable taxes or the employee can enter the tax data that was included on their receipt.  The Canadian module includes tax designations for the various sales taxes including HST, GST, PST, and QST.  The employee can save the expense report and add or edit receipts at a later date or they can save and submit the expense report to their manager or other parties for review and approval.

Since the Expense Management solution is integrated with Microsoft Dynamics GP and Microsoft Dynamics NAV, the payables transactions are automatically connected to the proper general ledger line items.  In addition, the various Canadian sales taxes are also automatically applied.  Streamlining expense reports, including confusing tax designations, can save time and ensure that you are in compliance with Canada’s taxing requirements.  In addition, the time you save from manual tax calculations or double-entry from one financial report to another can be better spent on other important business operations.

Give your employees an easier and more efficient expense management tool to use and be confident when managing a myriad of Canadian sales taxes.  Contact DynamicPoint to learn more about the SharePoint Expense Management solution and our other time-saving business management solutions that can be seamlessly integrated with your Microsoft Dynamics ERP.

By DynamicPoint, Developing Customized Solutions for Microsoft Products out of California

October 6, 2014 by by Guest Blogger, DynamicPoint

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Tags: Canadian Goods and Services taxes, connect people and data, enterprise resource planning, ERP, expense management, expense reporting management, GST, Microsoft Dynamics ERP, Microsoft SharePoint, SharePoint Solutions for Microsoft Dynamics, strengthen business communications with Microsoft SharePoint, tax designations for sales taxes
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