Reporting on tax period amounts by period

If your company reports taxes by invoice or payment date, then there is a difference between when the invoice amounts post to these applications:
  • Global Ledger
  • Tax

For example, if you create an invoice one month but do not post it to the Global Ledger until the next month, then this situation can occur.

By running the Tax Reconciliation Report, you can list all invoices that were applied to a specific tax period. The report subtotals by general ledger period or tax code.

Before running this report, you must have set up the Tax entity and calendar.

Note: When invoice amounts are displayed and an invoice amount has already been shown on a different line, an asterisk is displayed next to the amount. This indicates that this total is being repeated.
  1. Select Financials > Payables > Payables Processing > Process Tax Documents > Tax Reconciliation Report.
  2. Specify this information:
    Tax Entity
    Select a tax entity ID number.
    Company
    Select a company number.
    Tax Period Range
    Select the beginning and ending tax period to report.
    Report Option
    Select the way in which information is displayed on the report. Select Detail to provide tax information by vendor and invoice line. Select Summary to provide tax information by vendor.
    Report Sequence
    Select whether the reports are sorted by GL Account or by Tax Code.
    VAT Only
    Select Yes to only report VAT transactions that are processed through Value Added Tax Return Report.
  3. In the Report Distribution section, select a distribution list and export type for Tax Reconciliation Report.
  4. Click Submit.