Running Tax Reporting

Tax Reporting (TXR) allows you to produce tax reports. Two standard tax report layouts are included in Financials:

Note: These tax reports are defined using Report Designer. You can use Report Designer to amend these reports, or define different reports. However, you should be aware of how the tax reports extract, analyze and summarize the tax related transactions. See 'Setting Up User Defined Tax Reporting'.

The following steps are required to produce tax reports using the standard Financial tax report formats TL1 or TL2:

  1. Ensure the business rules have been defined to support the tax reports. See 'Setting Up the Standard Tax Reports'.
  2. Access Tax Reporting (TXR) to display the standard document format print request form.
    The Document Format Code at the top of this form determines the type of tax report to be produced.
  3. Select the document format, enter the remaining print request details and click OK.
    If the tax report includes provisional transactions, these transactions are posted as permanent transactions if you set the Final Print option. The Document Date entered on the report parameters is used as the posting date. See 'Making Provisional Transactions Permanent'.
  4. The tax reporting filter selection form appears. Enter the selection criteria to identify the tax transactions you want to report on, and select OK. See 'Entering the Tax Reporting Transaction Selection Criteria'.
    The transactions that match the selection criteria are extracted and a pop-up dialog identifies the number of transactions selected.
  5. Click OK to display the selected transactions on the Financials - Account Inquiry. This list should only contain one type of tax transaction, that is gross, net or tax transactions.
  6. Highlight the tax transactions you want to include on the tax report, and select Action > Reviewor click Review.
  7. Alternatively, select Action > Review All or click Review All to automatically select all of the transactions. For further information see 'Selecting Items on a Control Desk'.
    The selected transactions appear on the Control Desks In-Tray. You can deselect transactions at this point, if required.
  8. Click OK to select the transactions and add them to the interface table for tax reporting.
    Do not select a Report Process.
  9. Click OK on the Rows Extracted Successfully message that appears at this stage.
    Repeat steps 4 to 8 to extract transactions using each filter. The Tax Report Listing window appears when you have selected transactions using all of the filters available.

    The Tax Report Listing window identifies the total number of transactions selected for tax reporting. This is the total number of transactions included on the interface table which includes any offset transactions that have been extracted automatically.

  10. Click OK to run the tax report. The report is produced by Report Manager in the normal manner. If you are not familiar with the steps required to view, print or store reports, see 'Running a Report'.
  11. Alternatively, click Exit to cancel the report.