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Calculate and Post Tax Settlement (report)

The Calculate and Post Tax Settlement report helps with GST settlement. The report calculates the net amount of GST that's due or refundable and posts a journal to record the settlement. It streamlines end-of-period GST processing and helps ensure accurate tax reporting.

Typically, businesses use the report at the end of a monthly or quarterly GST filing period. The report evaluates posted GST entries and generates the journal entries for submission.

Use cases

Calculate and post GST that's payable or refundable at the end of a filing period by generating a journal based on posted entries. This report helps streamline tax settlement and compliance work.

Tip

Here are some tips on how to use the report:

  • Run the report at the end of each GST period to automate settlement.
  • Review the generated journal before posting to ensure accuracy.
  • Use filters to target specific GST entries or periods.
  • Coordinate with finance teams to align on filing schedules and thresholds.

Accountants can use this report to:

  • Calculate GST obligations or refunds at the end of a filing period.
  • Post GST settlements efficiently and accurately.

Controllers can use it to:

  • Ensure compliance with tax reporting requirements.
  • Monitor GST trends and filing consistency.

Auditors might reference it to:

  • Verify GST calculations and journal postings.
  • Confirm completeness of tax settlement processes.

Try the report

Try the report here: Calc. and Post GST Settlement

Tip

If you hold down the CTRL key while you select the report link, the report opens on a new browser tab. In this way, you can stay on the current page while you explore the report on the other browser tab.

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