Prepare Tax Return Fields

How to File Tax Returns?

To file and view tax returns using the Prepare Tax Return module in XoroERP, follow these steps:

1. Accessing the Module:

   • Navigate to the Prepare Tax Return module within XoroERP.

   • Select the "Prepare Sales Tax" option to begin the tax filing process.

2. Select Tax Type:

   • Choose the type of tax return you want to file, such as GST Tax Return or PST tax Return.

• Once selected, the table below will adjust to display relevant tax information based on your choice.

• If you need to add a State/Province that is not listed, contact Xorosoft for assistance.

1. Choose Filing Period:

• Select a filing period from the available options to view your tax return details. The options available are Monthly, Quarterly, Half Yearly, and Yearly.

• Customize the filing period further by choosing a specific date range to view.

• The first date in grey indicates the day up to which the tax has been filed so far.

1. Completing the Filing Process:

• After reviewing all tax return details and making necessary adjustments, proceed to file your tax return using the module.

Ensure that you are certain of your return before creating it, as filed tax returns cannot be undone, deleted, or voided.

By following these steps and utilizing the features of the Prepare Tax Return module in XoroERP, you can effectively prepare, file, and view your tax returns, ensuring accurate reporting and compliance with tax regulations.

Tax Return Column Details:

• Line Description: Provides a description of each tax line/box in your return.

• Line: Represents the specific line or box in the tax return.

• Amount: Displays the total amount for each line/box within the selected date range. Click to drill down for more details.

• Exception Amount: Shows the total exception amount before the selected date range. Click to drill down for details.

• Total Line Amount: Sum of Amount and Exception Amount for each line/box.

• Balance: Indicates the balance carried forward, applicable for certain lines/boxes.

• Adjustments: Sales tax adjustments can be made directly during the filing process by clicking on the pencil icon. Refer to additional resources for details on Sales Tax Filing Adjustments.

Additional Options:

These options are located under the "Options" menu in the top right corner of the page.

• Tax Installments: You can add tax installments by clicking on the "Add Tax Installment" option. This action will navigate you to the Sales Tax Installment module for managing tax installment payments.

Active Columns

Amount: Clicking on the Amount for any column will redirect users to the Account Register, where they can access details related to all transactions associated with the selected account. Utilize this module to view and open these transactions, as well as review running balances.

Exception Amount: Clicking on the Exception Amount will direct users to the Tax Exception Centre, where they can examine details related to Tax Exception and Sale Exception Amount for the selected account.

Adjust: The Adjust column provides an active option for users to make Sales Tax Adjustments while preparing a Sales Tax.