Calculate and Post Tax Settlement (report)

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

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

Use cases

Calculate and post GST/HST 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/HST period to automate settlement.
  • Review the generated journal before posting to ensure accuracy.
  • Use filters to target specific GST/HST entries or periods.
  • Coordinate with finance teams to align on filing schedules and thresholds.

Accountants can use this report to:

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

Controllers can use it to:

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

Auditors might reference it to:

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

Try the report

Try the report here: Calc. and Post GST/HST 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.

VAT management overview
Built-in GST/HST reports in Business Central
Built-in key finance reports
Ad hoc analysis on finance data
Financial analytics overview

Find free e-learning modules for Business Central here

  • Last updated on