You have created a VAT Return with a tax receivable amount.
From your bank you receive two separate incoming payments via bank statement for this single tax return.
It is, however, not possible to assign more than one tax payment to a tax return.
How to clear both payments with the tax return?
Reproducing the Issue
- In the Tax Management workcenter navigate to the VAT Returns view.
- Find the Reported tax return X with a tax receivable amount of, say, 100,00 LC (Local Currency).
- In the Liquidity Management workcenter in the Bank Statements view open the respective bank statement containing the two incoming payments of, say, 80,00 LC and 20,00 LC from the Tax Authority.
- In the bank statement go to the Transactions tab.
- For both payments (Payment Method: Other Incoming Payment) from the Tax Authority Post Processing is Required as the payments could not be allocated autmatically.
- Press on the Required links to open the Payment Allocations.
- How to allocate the payments in order to clear the tax receivable amount of tax return X?
At the moment it is not supported to assign more than one payment to a tax return.
But there is a workaround:
- Use one payment allocation to create a tax payment and assign it to the incoming tax return.
- Accept the payment difference (the difference amount equals the amount of the second payment).
- Allocate the difference to a specific account with the second payment allocation.
1. Create the Tax Payment:
- In the bank statements Transactions tab press on the Required link to access the first payment allocation over the amount of 80,00 LC.
- In the Customer/Supplier ID field select the Tax Authority.
- In the Payment Allocated To field select 8 - Tax payables or receivables.
- In the Allocated Amount field enter the amount of 80,00 LC.
- Then press Post. This will automatically trigger the creation of the incoming tax payment.
2. Assign the Tax Return:
- In the Tax Management workcenter naviage to the Tax Payments view.
- Here, in the Tax Payments in Preparation screen, select the new tax payment A over 80,00 LC and press View.
- In the Tax Return Arrangement ID select the ID valid during the dates of tax return X.
- In the Tax Payments tab match tax return X to the tax payment.
- A Payment Difference Amount of 20,00 LC is displayed.
- Press Accept.
- After the tax payment has been released the tax return X is cleared and its status now changes to Completed.
3. Allocate the Payment Difference:
- In the Tax Payments view of the Tax Management workcenter open the now released tax payment A.
- Press on the Journal Entry ID of the payment to check which G/L account the payment difference has been allocated to. Note down the G/L account XYZ.
- Now go back to the bank statement's Transactions tab in the Liquidity Management workcenter and press on the Required link to access the second payment allocation B over 20,00 LC.
- In the Payment Allocation navigate to the Allocation to G/L Account tab.
- In the G/L Account column select the Account Determination group to which G/L account XYZ is assigned.*
- In the Credit Gross Amount column enter the payment/ tax payment difference amount of 20,00 LC.
- Press Post.
This way tax return X is cleared with tax payment A.
And the payment difference is cleared via the direct G/L Account posting in Payment Allocation B.
*Should G/L Account XYZ not be available for payment allocations select an appropriate account determination group of your choice. In a last step create a Journal Entry Voucher to post the amount to G/L account XYZ.
KBA , SRD-FIN-ACP , Payables , How To