Accounting & Administrators can create and view tax reconciliations through the Accounts Payable section in the Accounting tab of the Side Navigation Bar
Last Updated: September 2020
This article explains how Accounting can create and view tax reconciliations through the Accounts Payable section in the Accounting tab of the Side Navigation Bar
There are two sections to this article
Creating a New Tax Reconciliation
- Navigate to Accounts Payable and click New Tax Reconciliation.
The New Tax Reconciliation page opens.
- In the Select the tax authority section, use the drop-down to select a tax authority.
- In the Select the statement date section, click Pick and use the calendar to select the statement date.
- In the Amount due section, enter the amount due.
- Click Start New Reconciliation.
The Tax Reconciliation page opens to the New Reconciliation tab, which displays the reconciliation summary, details, and available transaction line items.
- (Optional) To filter the transaction list, click Add Filters in the top right corner of the page and apply any filters needed. Users can filter by transaction type.
- Fill in the reconciliation details:
- Authority: The tax authority auto-populates based on the selection in Step 2.
- Bank Account (Required): Use the drop-down to select the bank account.
- Memo: Enter any internal notes related to the reconciliation.
- Reference: Enter an internal reference ID to search the reconciliation by.
- Posted At: Ensure the post date is correct or click Pick and use the calendar to select the correct date.
- Print check? (Required): Use the radio buttons to select Yes or No for check printing.
- From the transaction list at the bottom of the page, select the transaction(s) to reconcile by checking the checkbox to the left of the transaction(s).
- Click Create Reconciliation.
- The transaction(s) is reconciled and the View Tax Reconciliation page opens, displaying the reconciliation details and summary. By default, the Applies details display at the bottom of the page. Users can select the GL Impact tab to view the general ledger details.
In the top right of the page, users can click the More Actions drop-down to Print Check or Download CSV.
- Users can also click Void Tax Reconciliation to void the reconciliation.
Viewing Tax Reconciliations
- Navigate to Accounts Payable and click Browse & view tax reconciliations.
- All tax reconciliations display.
- To the far right of a line item, users can click the ellipsis icon to View Reconciliation.
- In the top right corner, users can click New Reconciliation to start a new reconciliation.