Updating tax transaction status

You can run Tax Analysis Report to list historical tax information and to update the status of current tax transactions.

Current tax transactions can have one of these status:

  • Created (status of 0)
  • Reported (status of 1)

Every time you run Tax Analysis Report, the status of tax transactions is updated from created to reported. Most companies run Tax Analysis Report at the end of each month.

When you run Tax Analysis Report, you can select taxes that are payable or taxes that are due. You can print the report within a range of tax point dates.

  1. Select Financials > Payables > Payables Processing > Process Tax Documents > Tax Analysis Report.
  2. Select Yes in the Update Option field to update the current transactions that have not yet been updated.
    The transactions that are updated are not included when Tax Analysis Report is run in the future if you select Yes in the Current Tax field.
  3. Click OK to run the process now or click Schedule to schedule the run later.