Reporting on tax period amounts by period

If your company reports taxes by invoice or payment date, sometimes there is a difference between when the invoice amounts post to:

  • the General Ledger application

  • the Tax application

For example, if you create an invoice one month, but do not post it to the general ledger until the following month, this situation can occur.

By running the Tax Reconciliation Report (TX222), 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 company and calendar. Defining the tax company Setting up a tax calendar

Note: When the report lists invoice amounts, if an invoice amount has already been shown on a different line, the report displays an asterisk next to the amount. This tells you that this total is being repeated.

Report on tax period amounts

  1. Run Tax Reconciliation Report (TX222) for the company you want to report on.
  2. Specify this information:
    Tax Period Range

    Specify the beginning and ending tax period to report on.

    Report Option

    Select whether to print the report in summary or detail.

    Report Sequence

    Select how the report is to sort records, by general ledger account or by tax code.

    VAT Only

    Select Yes to only report VAT transactions that were processed through Value Added Tax Return Report (TX120)

    The default is No (process all tax transactions).