Transferring Tax amounts to the settlement account means that the purchase Tax account is credited and the sales Tax account is debited with the amounts calculated for the Tax statement period. The net amount is credited or debited, if the purchase Tax amount is larger to the Tax settlement account. You can post the settlement immediately or print a test report first.
To transfer Tax amounts to the settlement account
In the Search box, enter Tax Statements, and then choose the related link.
In the Tax Statement window, on the Actions tab, in the Functions group, choose Calc. and Post Tax Settlement.
On the Tax Posting Setup FastTab, you can enter codes in the Tax Bus. Posting Group and Tax Prod. Posting Group fields to select the entries to be processed. If you do not enter any codes, entries with all business group codes and product group codes are included.
On the Options FastTab, specify the conditions for the batch job. For more information about a specific field, select the field, and then press F1.
Choose the Print button to start the batch job.
If you print a test report to obtain approval before posting you must the select the Post field to run the batch job again.
 Important |
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| If you calculate VAT on trade with the EU, you must also prepare a VIES declaration for the tax authorities. |
 Tip |
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For more information about how to work with fields and columns, see Work with Data. For more information about how to find specific pages, see Search. |