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Note: The General Ledger Account Analysis Report will not be part of the reconciliation process if you do not have General Ledger installed.
| US SALES TAX REPORT | |
|---|---|
| PARAMETER | SUGGESTED VALUE |
| Transaction Date Range | NULL |
| General Ledger Date Range | Period being reviewed |
| State Range | Desired State(s) |
| Currency Code | USD |
| Exemption Status | NULL |
| Sales Tax Liability Account Range | Sales Tax Accounts mapped to the States requested in the State Range Parameter |
| Detail Level | Show Summary, Lines-Brief |
| Order By | Customer Name |
| Posting Status | Posted |
| Table 1 - 67. (Table 2 of 2) | |
The Transaction Date Range should be set to NULL. Otherwise, if the transaction date and GL date for a given transaction fall in different periods, your report will not balance to the general ledger for the requested GL Date Range.
The Sales Tax Liability Account Range restricts adjustments only. The report will exclude any adjustments which fall outside the selected account range. All Invoice, Debit Memo and Credit Memo transactions with a line type of tax, will be included regardless of the account range selected. However, any Invoice, Debit Memo, or Credit Memo transactions that post tax to accounts outside the selected account range will be tagged with an asterisk (*) in the footnote column of the report.
The default value for the Detail Level parameter (Show Summary, Lines-Brief) enables you to review taxing authority totals while providing you with an adequate level of detail to efficiently research discrepancies.
Suggestion: To expedite the reconciliation process for state sales tax returns, you should first run the US Sales Tax Report using the Totals for State option of the Detail Level report parameter. This option will provide a single state total on each printed page of the report and can be used to quickly identify variant state balances. You can then run the report using the Show Summary, Lines-Brief option for only these variant states.
If an adjustment has been applied to non-tax invoice lines and has been erroneously posted to an account within the selected account range, it can be identified by nonzero amounts in the Gross and Taxable columns for the state, county and city summaries. See: US Sales Tax Report.
| SALES JOURNAL BY GL ACCOUNT REPORT | |
|---|---|
| PARAMETER | SUGGESTED VALUE |
| Order By | Customer |
| General Ledger Date Range | Period being reviewed |
| Currency Code | USD |
| Account Range | NULL |
| GL Account Type | TAX |
| Posting Status | Posted |
| Table 1 - 68. (Table 1 of 1) | |
By setting the GL Account Type to TAX, the Sales Journal by GL Account Report will only print tax transactions. If this report does not balance by account to your sales tax liability accounts in the general ledger, you will have to run additional copies of this report to identify the non-tax transactions posted to your liability accounts.
To verify that only authorized sales tax activity has been posted to your sales tax liability accounts, you can run the Sales Journal by GL Account Report with the following parameters:
| SALES JOURNAL BY GL ACCOUNT REPORT | |
|---|---|
| PARAMETER | SUGGESTED VALUE |
| Order By | Customer |
| General Ledger Date Range | Period being reviewed |
| Currency Code | USD |
| Account Range | Sales Tax Liability Accounts |
| GL Account Type | Receivable, Revenue, Freight |
| Posting Status | Posted |
| Table 1 - 69. (Table 2 of 2) | |
The GL Account Type parameter accepts only one value per report submission. You will have to run the report once for each of the three values. See: Sales Journal by GL Account Report.
| ADJUSTMENTS REGISTER | |
|---|---|
| PARAMETER | SUGGESTED VALUE |
| Order By | Customer |
| GL Date Range | Period being reviewed |
| Transaction Date Range | Null |
| Due Date Range | Null |
| Invoice Type Range | Null |
| Adjustment Type Range | Null |
| Currency Code Range | USD |
| Receivables Company Range | Balancing Segment being reconciled |
| Adjustment Account Range | Sales tax accounts mapped to the states requested in the State Range Parameter of the US Sales Tax Report |
| Table 1 - 70. (Table 2 of 2) | |
Every adjustment posted to your sales tax liability accounts should be reviewed by your company's Tax Manager to verify the adjustment should be included in your Sales Tax Return for the period.
Additionally, run the Adjustments Register with the following parameters to verify that tax adjustments have been posted to the sales tax liability accounts only.
| ADJUSTMENTS REGISTER | |
|---|---|
| PARAMETER | SUGGESTED VALUE |
| Order By | Customer |
| GL Date Range | Period being reviewed |
| Transaction Date Range | Null |
| Due Date Range | Null |
| Invoice Type Range | Null |
| Adjustment Type Range | Tax Adjustments |
| Currency Code Range | USD |
| Receivables Company Range | Balancing Segment being reconciled |
| Adjustment Account Range | Null |
| Table 1 - 71. (Table 1 of 1) | |
You should ensure that any sales tax adjustments not posted to sales tax liability accounts are receivables write-offs, which cannot be included in your Sales Tax Returns. See: Adjustment Register.
| GENERAL LEDGER ACCOUNT ANALYSIS | REPORT |
|---|---|
| PARAMETER | SUGGESTED VALUE |
| Type | Source Item |
| Currency | USD |
| Balance Type | A |
| Budget or Encumbrance Name | N/A |
| Accounting Period Range | Period being reviewed |
| Flexfield Range | Sales Tax Liability Accounts |
| Order By | Source |
| Table 1 - 72. (Table 1 of 1) | |
Finally, use the Transaction window to review the account distribution for each tax line of the transactions marked with an asterisk (*) in the US Sales Tax Report. Make any corrections as needed. See: Entering Transactions.
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