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FrontAccounting forum → Reporting → ?About Tax configration
Hello All
Please i want to know what is the correct configuration for this table in tax Type
Sales GL Account: 2150 Sales Tax
Purchasing GL Account: what i have choose here make it same Sales 2150 Sales Tax or i have to create new GL Account Chart of Accounts) and put like 2170 Purchasing Tax
Please waiting your reply.
Hi realjedd -
In my opinion it has to be same account as "2150 Sales Tax" for Sales/Purchase.
I understand that you are looking this from VAT standpoint, so you will get Dr. and Cr. in same account from the type of transaction i.e. Sales/Purchase. The net in this GL Account will determine that Refund or Tax Payable to statutory body in your country.
Thanks,
You are right Viwal. Thanks alot.
But when you make DR and CR nothing happen to the tax report i can not make it empty to calculate for the new next month.
still the tax amount there. although i created accrued account for that. f.i. I have to pay tax 2000 then i made JE DR from 2150 sales tax account 2000 and CR 2000 for accrued account . nothing happen . when i check the tax report nothing happen still there is 2000 need to be empty. How??
you know what happen with me, just the transitions number changed as you mentioned above, 50,000 sales tax 48,000 purchase tax after JE it become 48,000 sales tax 50,000 purchase tax still there is gab 2000. this is confuse me!
I am very new to this product, but it seems like this is happening because of the way tax related attributed are set.
Please tweak the attributes in Company Setup and try running the report again.
Attributes -
1) Tax Period - I think default value is 3 months, if you need monthly snapshot this can be updated to 1
2) Tax Last Period - Which can be setup to 1 month.
In my opinion with these 2 changes it will not pull the last month's data and report will show only current month Input/Output Tax.
Note - Please take a note of existing values in your setup before making changes and revert if this does not give the desired results.
Hi apmuthu
i read the wiki several times but i stoped here it is Ambiguous.
i stoped in point 7- So per 01/31/2010 we would enter a JE where we ((((empty)))) the Tax Accounts and counter book them on the Accrued Tax Account.
i do know in your side when you do JE it become empty but in my side still there no empty at all.
@joe: can the wiki notes be clarified?
FrontAccounting forum → Reporting → ?About Tax configration
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