Report Description & Purpose

The Sales Tax Report aids in reconciling Journal Entries booked to the Tax General Ledger Account by allowing users to easily view sales taxes invoiced during a given time frame. For these invoices, the report looks at invoice line items to estimate Total Tax Liability, as well as how much of this has been collected via customer payments.

Features & Primary Benefits

• Break down of applied taxes in a given period of time. 
• View outstanding tax liability for Posted, Paid, and Partially Paid Invoices.
• Filter and group tax amounts by Invoice, Customer, Product, Plan, etc.

Predefined Filters

The following filters are automatically applied to the Aging Report. Click the Filters arrow to expand the section and adjust the criteria as needed.

While the default view provides tax amounts grouped by Tax Name, users have the ability to filter and group this report in various ways including by Customer, State, Product, Plan and Invoice ID.

Report Columns Defined

• Tax Name - As indicated on the Invoice. 
• Gross Sales - Sum of all Invoice subtotal amounts, exclusive of tax.
• Taxable Sales - Sum of all Invoice subtotal amounts on Invoice lines where tax was applied, exclusive of tax amount. 
• Sum of Total Tax Liability - Sum of all Invoice tax amounts.
• Total Tax Collected - Total tax amount collected via customer payments or reduced via refunds, credits, etc.
• Total Tax Due - Liability minus Tax collected. 

When to Schedule this Report

The timing of when to run this report will vary based on the collections policies of your organization. One common example is to run this report as part of a month end reconciliation process, or to identify the most important customers to follow up on for payment.