Step 3: What reports to run when its time to file your sales tax return

There are sales tax specific reports in AccountEdge to help you prepare your sales tax return.

Displays a summary of tax charged on sales or paid on bills, sorted by tax code, for a selected date range.

Note: the cash version of the reports include only transactions which have been fully paid.

Displays by tax code for each invoice, the tax rate, sales value (before tax) or purchases value (before tax) and the tax collected or paid. This report also displays the grand total of the sales or purchases listed, and the tax collected or tax paid.

Note: details displayed depend on what is selected in the report filters.

Tax Amount Variance [Sales]

This report is an exception report and can also be run in the Company Data Auditor located in the Accounts command center. Displays by tax code for each invoice, the tax basis, rate, posted tax (the amount on the invoice when recorded), the calculated tax (the amount of tax automatically calculated) and the variance (the difference between the posted tax and the calculated tax). A variance can occur by recalculating the tax that was automatically calculated. If this has happened, we recommend you enter the calculated tax amount to keep the invoice in balance. If the invoice has already been paid or the taxes have already been recorded then an adjustment will have to be made.

Tax Code List

Displays by tax code, the description, tax type and rate.

To access these reports:

Go to the Reports menu and select Index to Reports. The Index to Reports window appears.

Click the Sales tab and scroll down to the Sales Tax section. Each report listed has a brief explanation to the right of the list when the report is highlighted.

Click Customize to view the additional options available for each report.

Click Display.