On the Taxes tab, you can specify a list of taxes, tax penalties, or interest on the overdue taxes.
The "Tax Transaction (create)" form. The Taxes tab
To append a new line, click the Add button.
In the Tax Type column, select the taxes which need corrections or penalties to be registered in the system.
In the Type of Payment column, you can select from the following options:
- Tax: To add a transaction that adjusts the tax amounts.
- Penalties: To add a transaction that registers the tax penalties.
- Interest: To add a transaction that registers the interest on overdue taxes.
In the Transaction Type column, select the type of transaction from the following options:
- Payable Tax Increase
- Payable Tax Decrease
- Recoverable Tax Increase
- Recoverable Tax Decrease
In the Amount field, enter the amount of tax, penalty, or interest.
The Correspondence column is populated automatically with the default corresponding GL Account which you can replace by another one if needed.
The Department column is populated with the default department selected as you preference on the Quick Menu > Personal Settings form.
The Dimensions column is populated with the default dimensions (shown as a link) specified for the selected GL account. Click the link to open the Dimensions dialog box and review the default dimensions for the selected GL Account or select other dimensions among available (see a screenshot below).
Click OK to save the changes and close the dialog box.
In the GL Accounts column, you can see the default account for the selected transaction type shown as a link. Click the link to open the GL Accounts Edit dialog box and review the account or select another GL account (see a screenshot below).
Click OK to save the changes and close the dialog box.
Click Save on the form toolbar to save the entered data. The Total field at the bottom of the form will show the the sum of the listed amounts.