(IND) Create a tax journal for service tax [AX 2012]

Updated: November 5, 2012

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2

NoteNote

This topic has not been fully updated for Microsoft Dynamics AX 2012 R2.

You can transfer the opening balances of service tax components to the tax component ledger accounts or post adjustment entries between the tax components by using the Tax journal form.

NoteNote

According to the legal requirement for service tax, you do not have to create a tax journal for the Service tax tax type. However, you can create a tax journal for transferring opening balances to ledger posting accounts or to make any adjustments between the tax components.

  1. Click General ledger > Journals > General journal.

  2. Select Service tax in the Tax type field.

  3. Select the tax ledger posting group for service tax in the Tax ledger posting group field.

  4. Select the service registration number in the Tax registration number field.

  5. Enter the date that the opening balance amounts are posted on in the To date field.

  6. Select the service tax component that the opening balance amount must be transferred to in the Tax component field.

  7. Select the ledger account that the opening balance amount is posted from in the Account field. If you enter a negative amount, the tax amount is deducted from the ledger account that you specify in this field, and if you enter a positive amount, the tax amount is added to the ledger account.

  8. Enter the starting balance amount in the Amount field. Enter a negative value if the amount is credit type and a positive value for the debit type amount.

  9. Select the tax code that the service tax component is attached to in the Tax code field.

  10. Click Transfer to transfer the tax journal record to the Journal voucher form.

  11. View the details of the tax journal record that is transferred in the Journal voucher form.

  12. Select the ledger account that the opening balance transaction is posted to in the Offset account field. If you enter a negative amount in the Amount field in the Tax journal form, the tax amount is transferred to the ledger account that you specify in this field, and if you enter a positive amount, the tax amount is deducted from the ledger account.

  13. Validate and post the journal.


Announcements: To see known issues and recent fixes, use Issue search in Microsoft Dynamics Lifecycle Services (LCS).

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