(IND) Calculate sales tax settlements [AX 2012]

Updated: November 17, 2012

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

Before you submit a tax settlement to the tax authorities for a financial year, you must complete the periodic sales tax payment process to make the necessary tax adjustments. You can view the amount that is recoverable and payable for the specified period.

NoteNote

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

  1. Click General ledger > Periodic > Sales tax payments > Sales tax payments.

  2. Select the sales tax registration group to process the settlement for.

    NoteNote

    You can click Tax registration group to view the sales tax registration groups that have been set up.

  3. Select the sales tax registration number to process the settlement for in the Registration number field.

  4. Select the settlement period to process the settlement for in the Settlement period field.

  5. Select the date to identify the settlement period in the Date field. All the transactions that are based on the settlement period are considered for the settlement process.

  6. Select the version of the sales tax report to be settled in the Sales tax payment version field.

  7. Click Tax adjustment to open the Tax adjustment form to view the details of the tax components in the specified tax registration group.

  8. In the Tax adjustment form, click Transactions to open the Transactions form to view the sales tax transactions that are posted for the tax component.

    The total recoverable amount for the sales tax component is displayed in the Recoverable amount in total field and the total amount that is payable for the sales tax component is displayed in the Payable amount in total field.

  9. Clear the Marked check box for the transactions that you do not want to settle.

  10. Click Update to update the selected transactions with the recalculated value that is based on the tax setoff rules. If you close the form without clicking Update, the changes will not be saved and the settled transactions will not be listed in the Transactions form when the subsequent settlements are processed.

    NoteNote

    The values are recalculated, based on the tax setoff rules if the Marked check box is cleared for specific transactions.

  11. Close the Transactions form.

  12. In the Tax adjustment form, click Adjustments to open the Adjustment form to adjust the tax amount.

    NoteNote

    You can view the sales tax settlement period after you complete the sales tax payment periodic process in the Tax adjustment form. For more information, see "Adjustment (form)" in the Applications and Business Processes Help.

  13. Select the tax component to transfer the specified amount to in the To tax component field.

  14. Enter the recoverable amount to be transferred to the tax component in the Transfer amount field.

    NoteNote

    The tax amount can be transferred only to the extent of the amount that is available in the Recoverable amount in total field.

    You can view the total adjusted recoverable amount in the Recoverable amount in total field. This is the sum of amounts in the Recoverable amount field and the Adjustment field for the sales tax component in the Tax adjustment form.

  15. Click Transfer to transfer the specified amount from the tax component to a different tax component.

  16. Close the Adjustment form.

    NoteNote

    If you make any adjustments and do not click Transfer, the changes will not be saved when you close the Adjustment form.

  17. Click OK in the Tax adjustment form to close the form and save the changes.

    NoteNote

    The values in the Adjustment field are posted to the Tax adjustment – Settlement account based on the tax component. When the Tax adjustment form is reopened, the last record that is saved is displayed.

  18. Select the sales tax payment version in the Sales tax payment version field.

  19. Select the Update check box on the Sales tax payment form to update the details for the tax adjustment and settlement.

  20. Click OK to start the sales tax settlement process and generate the sales tax payment report. The tax settlement amount is posted to the vendor account. The voucher entries are generated and posted to the vendor authority based on the tax component.

    You can view the tax payment details, such as the sales tax code, the tax type, the tax registration number, the tax component for the tax registration number, the original amount, and the sales tax amount on the Sales tax payment report.


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

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