You use this program to generate a report that consolidates sales tax information for ease of submitting tax returns to authorities.
| Field | Description |
|---|---|
| Tax return for | |
| Tax period | Indicate the tax period for, or from, which you want to generate the report. |
| Tax year | Indicate the tax year from which to generate the report. |
| Include tax return to | |
| Tax period | Indicate the tax period up to which to generate the report. |
| Tax year | Indicate the tax year up to which to generate the report. |
| Tax code excluded from return | |
| Tax code | Indicate the tax code(s) to exclude from the report
(use a comma, without spaces to separate codes). The excluded tax code(s) are only excluded from Block 6 through to Block 9 of the report. |
| Report type | |
| Detail | Generates a detailed transaction report listing information which could be required for query purposes (e.g. invoice number, amount, journal number, tax code, etc) as well as a summary. |
| Summary | Generates a report of totals for each detailed section (block) together with an explanation in a legislated format. |
| Reprint | Generates the report for previously printed transactions. |
| Submit tax return |
Marks all transactions included in the report as being submitted. The Submit Period and Submit Year fields against the transactions are set to the selected tax period and tax year and the Submit Date is updated with the Report Date. This option is only enabled when you select the Reprint option. |
These options enable you to apply a theme to the report and to define multiple output destinations for the report once it has been compiled (SRS Output Options).
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Tax information is taken from the following modules:
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Accounts Payable
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Accounts Receivable (through the Sales Analysis module)
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Cash Book
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Sales Orders
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General Ledger
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Accounts Payable Tax on Settlement discount is only included in the report when a Default tax code for settlement discount is defined (Accounts Payable Setup) and the tax code for settlement discount against the released invoice is not spaces.
The tax on settlement discount entries are printed on the report with a PS (AP Tax on Settlement discount) in the Source column.
![[Note]](images/note.png)
If an invoice was released in a previous version of the Payment Cycle Maintenance or AP Release Invoices to Pay by Review programs, then the settlement discount Tax code field will be blank by default. Unless this was changed before the invoice was paid, no settlement discount tax will appear on this report for that invoice.
QST tax on Settlement discount is currently NOT included in the report.
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Accounts Receivable tax on Adjustments is included in the report. It is considered an output tax and is denoted by AS in the Source column.
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Accounts Receivable tax on Settlement discount is included in the report. It is considered an output tax and is denoted by AR in the Source column.
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The For the period block is not printed when the Use GL periods for tax returns option is enabled (Company Tax Options Setup).
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The layout of the Summary report is based on the VAT100 system used in the United Kingdom.
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The tax for transactions posted in the Cash Book Deposits & Withdrawals program, where the transaction amount equals the Tax amount, is displayed in Block 4 and Block 5 only when the Tax basis used was Exclusive. If the tax basis used was Inclusive, then the tax breakdown reflects incorrectly as it is assumed that a portion of the invoice amount reflects Merchandise.
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The following sections are printed on the Detail report:
Section Description Block 1 Total tax amount on all Output tax types (Sales, Accounts Receivable, Cash Book). Block 2 Total tax amount on EC Acquisitions of Input type tax (Accounts payable). Blank if EC VAT is not installed. Block 3 Sum of Block 1 and Block 2 Block 4 Total tax amount on all Input type tax (Accounts Payable and Cash Book) Value of tax on settlement discount is shown as negative. When processing a Void check, the sign is reversed.
Block 5 Difference between Block 3 and Block 4 Value of tax on settlement discount is positive. When processing a Void check, the sign is reversed.
Block 6 Total Sale value and all Other Outputs less Total Tax Amount excluding the omitted tax codes. Block 7 Total Purchase value and all Other Inputs less Total Tax Amount excluding the omitted tax codes. Shows (discount taken - tax on settlement discount) as a negative. When processing a Void check, the sign is reversed.
Block 8 Total value of all Sales (Output) to EC members with Purchase Type 2 and Tax Status E (exempt) excluding the omitted tax codes. Blank if EC VAT is not installed. This block includes values for both taxable and non-taxable EC members. Block 9 Tax value of all Purchases (Input) to EC members excluding the omitted tax codes. Blank if EC VAT is not installed.
Before running this report for the first time, you need to:
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Define your tax return periods using the Tax Return Period Maintenance program, or in the General Ledger Setup program, enable the Use GL periods for tax returns option (Company Tax Options Setup).
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Run the Tax Return Setup conversion utility program.
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Run the Sales Analysis Update program to update the tables used by the Tax Return.