Tax date

There must be an option to specify invoice date, prepayment date, delivery date, or another date as the tax date. The tax date is different than document, accounting, and transaction dates. The tax date primarily affects accounts receivable and accounts payable invoices, credit notes, debit notes, and AR and AP corrective transactions.

How Infor meets this requirement

In SyteLine, the invoice date must be captured for every sales or purchase transaction so that the Input/Output VAT listing can properly display the transactions for each month.

Application Setup or Actions
ERP To provide the information for the Input/Output VAT listing:
  • When a purchased goods or service has an approved VAT invoice, use the A/P Vouchers and Adjustments form to record the purchase VAT invoice with amount, invoice number, and invoice date.
  • When a sold goods or service has an issued VAT invoice, use the Invoices, Debit and Credit Memos form to record the sales VAT invoice with amount, invoice number, and invoice date.
  • Using the VAT Report form, generate a report, sorted by tax code, for each month’s range of invoice dates.
  • Submit the report to the tax authority.