We have prepared and and released GST tax reports for the company using wrong period ( Monthly ) for the periods January to August.
Now we want to update the tax period to the correct one ( Quarterly ) but the period type drop down menu is inactive , I think because we have released tax reports in the system.
Is it possible to void these tax reports without financial impact?
Best answer by joshmclaughlin94
View originalHello Dheyaa,
The answer is dependent on if the Tax Reports have been released. You cannot modify tax periods that are closed. Releasing of the Tax Report closes the tax period, whether an AP Bill has been generated to the Vendor Agency, or not.
In Acumatica, there’s no way to retroactively modify closed Tax Periods. The only way to adjust this structure would be moving forward. What you could do is shorten the current tax year to include all monthly periods. Then, when the next tax year is created, change type to quarterly.
To do this:
Per your example:
Every Tax Agency is different in how they require sales tax data, so if there are additional variables to consider, please reach out your Acumatica Support provider.
I have a similar issue where a tax report was created incorrectly and released now how do I reverse this? Am I completely stuck??
We have the exact same situation as
The only solution I can come up with is creating a manual AP bill to pull the rest of the sales tax due in, but is there any other way to reverse what has happenned in order to start over?
Is there a way to capture the remaining tax due for October besides a manual AP bill?
What would the ramifications be of creating an additional AP bill to pull in the rest of the sales tax due? How does that transmit into next months Sales Tax Prep in ACM? Does it mess anything up if our generated Tax due in ACM does not match what we actually file and pay?
Thanks for any help!
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