Problem: VAT Return document values differ from detailed tax reports while using Tax Groups.

Solution:  Tax Groups members should be updated each tax quarter. 


1. Go to Taxes > Master Data > Tax Groups:


2. Open Tax Group and go to History section:


3. Create a new item with parameters:

  • Period - the tax quarter start date
  • Tax Group - select the tax group
  • Tax Group Members select the entities that are included in Tax group

Press Save and Close: 


4. Next quarter, use Copy option and put only the new period date:


5. As changes are done, please refill the VAT Return document and check Details..
   VAT Return is filled according to the updated Tax Group, and the total amounts in VAT Return boxes are equal to the total amount in detailed Tax Reports:
 


Thank you for being a FirstBIT customer!

# quarter update quarterly tax group issue

  • No labels