Modify Tax Transactions

Explanation

This activity is used to modify tax transactions once they have been fetched into the tax ledger. Tax transactions that are not reported (i.e., the tax transactions for which the Is Reported check box is not selected in the Tax Transactions window) are modified in the Tax Transactions window or the Modify Tax Transactions dialog box. Tax transactions that are reported can be modified only in the Modify Tax Transactions dialog box.

Prerequisites

• Tax transactions which have been fetched into the tax ledger must exist.
• If tax code, delivery type, tax liability date and/or tax number are to be modified, the relevant check boxes must be selected in the Tax Ledger Parameters window to enable the required changes. (Refer Enter Tax Ledger Parameters.)
• If tax invoice related information is to be modified, the Is Reported check box must be cleared for the tax transaction to be modified.
• If tax withholding certificate related information is to be modified, the Is Reported check box must be cleared for the tax transaction to be modified.
• The tax transactions which are to be modified must have the Is Part of Tax Ledger check box selected in the Tax Transactions window.
• The tax transactions which are to be modified must have the Include in Tax Proposal check box selected in the Tax Transactions window.

System Effects

Window

Tax Transactions

Related Window Descriptions

Tax Transactions
Modify Tax Transactions

Procedure

If the tax transaction is not reported,

1. Open the Tax Transactions window and query for the tax transaction you want to modify.
2. Change the information as required and save.

If the tax transaction is reported,

1. Open the Tax Transactions window and query for the tax transaction which you want to modify.
2. Select the transaction line, right-click and then click Modify Tax Transactions. As a result, the Modify Tax Transactions dialog box will open.
3. If you want to change the tax number, select the Enable Change of Tax Number check box and enter the changed tax number in the Tax Number field.
4. If you want to change the tax liability date, select the Enable Change of Tax Liability Date check box and select an option to specify the tax liability date. If the tax liability date you want to enter is different from all the available options, specify the appropriate date in the Enter Date field. Enter the additional number of days to be added to the specified date to determine the tax liability date in the Add Number of Days field if necessary.
5. If you want to change the tax code, select the Enable Change of Tax Code check box and enter a value in the Tax Code field using the List of Values.
6. If you want to change the delivery type, select the Enable Change of Delivery Type check box and enter a value in the Delivery Type field using the List of Values.
7. If you want to change the income type, select the Enable Change of Income Type check box and enter a value in the Income Type field using the List of Values.
8. If you want to change the legal identity (which is related to US specific 1099 Reporting), select the Enable Update of Legal Identity check box and enter a value in the Legal Identity field using the List of Values.
9. Click OK to close the dialog box.

If the 1099Reports income is reported:

1. Open the Tax Transactions window and search for the tax transaction you want to report under 1099 reporting.
2. Select the transaction line, right-click and then click Calculate Income Amount to open the Calculate Income Amount dialog box.
3. In the dialog box, enter the date/period range for which the income amount should be calculated and click OK.