1 Topic by carmelr (edited by carmelr 08/03/2012 04:49:12 am)

  • From: Malta
  • Registered: 04/06/2012
  • Posts: 123

Topic: Incorrect TAX Inquiry Report

TAX Inquiry shows proper amounts for all TAX percentages except for the 0% (Exempt) TAX.

  • joe
  • Administrator
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Incorrect TAX Inquiry Report

The problem is for GL entries done directly in the Bank and General Ledger. The taxes are calculated backwards and this is not possible for 0% rates. Please try to use the bank payments / deposits and please use quick entries for your most common transactions.


/Joe

3 Reply by carmelr (edited by carmelr 08/04/2012 07:35:40 am)

  • From: Malta
  • Registered: 04/06/2012
  • Posts: 123

Re: Incorrect TAX Inquiry Report

Thanks Joe for the reply.
I am using "Direrct Invoice" with Items and Services marked as 0% VAT. Still no joy with TAX Enquiries Report that does not report the 0% Exempt Sales and Purchases.

We are not using GL entries directly to the Bank.

Carmelo

  • From: Malta
  • Registered: 04/06/2012
  • Posts: 123

Re: Incorrect TAX Inquiry Report

The problem has been solved smile
In 'Item Tax Type' there is a dropdown for 'Is Fully Tax-exempt'.
When this is set to 'YES' the tax is not reported in the TAX Report.

Since I was working on 0% VAT Exempt, I thought that that setting should be YES.

Carmelo