Contains some special tables to manage the tasks necessary for settling Tax and reporting to the customs and tax authorities. You can use these tables to have the program:
calculate the VAT due for a period
prepare and print the VAT statement
print a list of sales to EU countries/regions (on paper or to a diskette)
The program creates an entry in the Tax Entry table for each posted transaction that involves tax. These entries are used to calculate the tax that must be settled for a given period. When the calculation is to be done, you use a VAT statement to specify how you want the program to calculate VAT.
You can create several different types of Tax statements in the Tax Statement Template window if you need different forms. If you need different Tax statements based on the same template, you create different names in the Tax Statement Name window.
The VAT statement itself is filled out in the VAT Statement window. In this window you can choose to define the Tax statement based on the accounts in the Chart of Accounts window or based on entries in the Tax Entry table.
The VAT statement is normally only defined when you are doing the setup for the rest of the program. There you set up the Tax Statement window so that it suits the Tax statement which the particular company must turn in.
After you have defined a VAT statement, you can print it by clicking Actions, pointing to Functions, and then clicking Print. After you have printed and approved the Tax statement, you can run the Calc. and Post Tax Settlement batch job to close the open Tax entries and transfer purchase and sales Tax amounts to the Tax settlement account.