4.2 How to configure tax reports

  1. 1. Click on Accounting

    Click on Accounting

  2. 2. Click on Configuration

    Click on Configuration

  3. 3. Click on Settings

    Click on Settings

  4. 4. Select the relevant period.

    Select the relevant period.

  5. 5. Select the Journal for which the closing of Tax report will be posted.

    Ideally its own Journal

    Select the Journal for which the closing of Tax report will be posted.

  6. 6. Click on Save

    Click on Save

  7. 7. Click on Configure your tax accounts

    Click on Configure your tax accounts

  8. 8. Select Tax payable account & Tax receivable account

    Select Tax payable account & Tax receivable account

  9. 9. Select Tax payable account & Tax receivable account

    Select Tax payable account & Tax receivable account

  10. 10. Click on Save

    Click on Save

  11. 11. Click on Reporting

    Click on Reporting

  12. 12. Click on Tax Return

    Click on Tax Return

  13. 13. Check details Tax Return Report

    Check details Tax Return Report

  14. 14. Once confirmed, click closing entry

    Once confirmed, click closing entry

  15. 15. A double entry will be drafted to close the Tax accounts for the period

    A double entry will be drafted to close the Tax accounts for the period

  16. 16. Click on Post

    Click on Post