Taxes

With the Taxes feature, you can view total tax liabilities for each agency, and also search for remittances paid over a specific period.

These are the tasks that you can perform in Taxes:

• Tax Summary

• Make Adjustments

• Pay an Installment

• Pay a Remittance

• Search Tax Remittances

Accessing Taxes

Follow these steps to access the Taxes feature:

Navigate to the Home tab. Click the Taxes & Payroll button in the the ribbon. On the left side—in the Taxes & Payrolls tree—click Tax Summary.

Taxes Setup

You may want to make changes to Taxes Setup, especially if this is your first time using Taxes.

Tax Summary

The Tax Summary feature offers several functions, including:

• View a summary of liabilities for a specific tax agency

• Make an adjustments to a liability

• Pay an Installment

• Pay a Remittance

We explain each of these in the sections below.

Summary of Tax Liability

To view a list of the tax liabilities outstanding for a particular agency (such as the Canada Receiver General), follow these steps:

1. In the menu tree on the left, click on Tax Summary.

2. Choose Canada Revenue Agency for the Tax Agency.

3. Select a Date Range, such as Last Quarter.

4. If necessary, restrict the date range further with Start Date and End Date.

A list of liabilities will appear, as shown in the figure below.

Liability Adjustment

You may find it necessary to modify your tax records within Shop Manager to accurately reflect any tax adjustments for your company.

To make an adjustment, follow these steps:

In the tax summary listing, click on the Tax Line item for which you need to make an adjustment.. In the Tax Summary ribbon, click the Adjustment button to display the popup window as shown in the figure below. Enter a Date, then verify both the Tax Agency and the Tax Line. Next, choose the Adjustment Account that corresponds to this adjustment. For review and auditing purposes, we recommend that you enter a clear Description to explain the reason this adjustment. Enter the Amount and click OK.

Record a Liability Installment

If you make an installment tax payment, you can record it with this function.

To make an installment, follow these steps:

In the tax summary listing, click on the Tax Line item for which you need to make an installment. In the Tax Summary ribbon, click the Pay Installment button to display the popup window. Enter a Date, then verify both the Tax Agency and the Tax Line. For review and auditing purposes, we recommend that you enter a clear Description to explain the reason this adjustment. Next, choose the Payment Method that corresponds to this installment. Enter the Amount and click OK.

Record a Tax Remittance

If you make an tax remittance, you can record it with this function.

To make an remittance, follow these steps:

In the tax summary listing, click on the Tax Line item for which you need to make an installment. Take note the Amount of the remittance. In the Tax Summary ribbon, click the Tax Remittance button to display the popup window. Enter a Remittance Date, then verify both the Tax Agency, and that the Start Date and the End Date reflect the period that corresponds to this remittance. Verify the Amount. Next, choose the Payment Method that corresponds to this adjustment. For review and auditing purposes, we recommend that you enter a clear Description to explain the reason this adjustment. Click OK.

Search Tax Remittance

To view a listing of tax remittances that were paid for a specific period, follow these steps:

1. In the menu tree on the left, click on Search Tax Remittance.

2. Choose Canada Revenue Agency for the Tax Agency.

3. Select a Date Range, such as Last Quarter.

4. If necessary, restrict the date range further with Start Date and End Date.

A list of remittances for this period will appear, as shown in the figure below.