Enter Tax Liability Date Control

Explanation

This activity is used to enter rules that determine the dates on which the customer invoices, supplier invoices and the payments of a company become liable for tax. It is also possible to define exceptions if different rules have to be followed for different tax codes.

Prerequisites

This activity requires that tax codes have been entered for the company.

System Effects

The tax liability date for the tax transactions fetched into the tax ledger will be determined by the rules specified in the Tax Liability Date Control window.

Window

Tax Liability Date Control

Related Window Descriptions

Tax Liability Date Control

Procedure

  1. Open the Tax Liability Date Control window.
  2. Select a value from the list for the Customer Invoices field to specify when the customer invoices would become liable for tax.
  3. Select a value from the list for the Supplier Invoices field to specify when the supplier invoices would become liable for tax.
  4. Select a value from the list for the Payments field to specify when the payments made using payment documents would become liable for tax.
  5. Save the information.

To define exceptions

  1. Create a new record in the Tax Liability Date Exceptions table.
  2. In the Tax Code field, enter the tax code which you want to treat as an exception to the rule defined.
  3. Specify when the customer debit invoices using the entered tax code would become liable for tax by selecting a value from the list for the Customer Debit Invoices field.
  4. Specify when the customer credit/correction invoices using the entered tax code would become liable for tax by selecting a value from the list for the Customer Credit/Correction Invoices field.
  5. Specify when the supplier invoices using the entered tax code would become liable for tax by selecting a value from the list for the Supplier Invoices field.
  6. Save the information.