If your organization has set up Tax Codes in Sage Intacct to track the tax on sales ( viz., VAT, GST) and submit a report to the Government, you would want to leverage these codes in Fyle while an employee is creating their expense. It would also help export Fyle's expenses with the correct tax and GL code to Sage Intacct.
Follow the steps below to start using Tax codes from Sage Intacct in Fyle.
Importing Tax codes from Sage Intacct to Fyle
1. Log in to your Fyle-Sage Intacct integration using your Fyle Admin credentials.
2. If this is your first time accessing the Integration, kindly follow the steps here to complete the Onboarding.
3. If you have been using the Fyle-Sage Intacct Integration for a while and are looking to set up Taxes head to Configurations > General > Import Sage Intacct Tax code
4. Enable the option to Import Tax codes from Sage Intacct as Tax groups in Fyle.
5. All the Tax codes from Sage Intacct would now be available in Fyle as Tax groups under Admin settings > Expenses > Taxes. If you wish to rename or disable a Tax group, you could do so from the Admin settings page.
Mapping Tax groups from Fyle to Tax codes in Sage Intacct
If you have already created Tax groups in Fyle and now wish to map them to their counterparts in Sage Intacct, you could achieve this in the Tax Group Mapping section of the Fyle- Sage Intacct Integration.
6. To map a Fyle Tax group to Sage Intacct Tax code, head to Tax Group Mapping and hit New Tax Group Mapping.
7. Select the Tax Group from Fyle and its counterpart in Sage Intacct to complete the mapping.
8. Now, all the expenses that carry the tax group value created in Fyle will be exported to Sage Intacct with a corresponding Tax code as per the mapping established in the Tax Group Mapping section.
Some points to note:
Currently, the Integration supports only the import of Tax code from Sage Intacct when the location entity selected in the integration is a Non-US entity as shown in the image below
If the Import Tax option is enabled in the Integration, but the Fyle expense does not carry any Tax group, then the export from Fyle to Sage Intacct would be mapped to a default Tax rate selected under General Mappings.
Currently, tax codes will be exported only when the expenses are created at an entity level in Sage Intacct. If an expense needs to be created at a Top-level, then taxes cannot be exported to Sage Intacct.
Sample Expense exports from Fyle to Sage Intacct showcasing Tax code
Journal Entry in Sage Intacct
Expense Report in Sage Intacct
Bill in Sage Intacct
If you need assistance in setting this up, do not hesitate to contact us at [email protected].