Hi all

I have printed the various tax analysis reports and none Net amounts seem to agree with the Sales accounts in the general ledger.

Does any one know of a reconciliation method to compare the total taxable sales on the ledger account against the Tax analysis reports.

Regards

Kam

We have experienced this problem also.

For us the biggest cause we found to be manual postings to the GLD tax accounts. In the main this was due to bank & cash transactions being bulk posted from an analysed print out at the end of a month.

As a precaution we have now blocked the GLD tax accounts from manual postings. Although not essential it forces you to use a tax code for all relevent postings.(We still have one account for manual adjustments)

Also don't forget that the tax period is separate to the fiscal period. So it is possible to have a transaction showing in a different tax period to the fiscal period. (This could come about for a number of reasons.)

Our reconciliation is very straight forward:
We export the tax report and GLD tax accounts to an excel file. Compare reports and investgate the differences.
It depends on your company policies and your tax authorites but knowing the reason for the difference maybe enough.

Hope this helps you get started.