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After you calculate tax for a journal, the system does not recalculate tax if you revise any line in that journal. If you need to revise a taxable amount or alter its tax information after you have calculated tax, you should either reverse and re-enter the journal (if it is already posted), or delete the unposted journal and re-enter it correctly.
After you calculate tax, the resulting new tax journal lines can be edited just like any other journal lines. For example, if you need to change the tax liability account for a specific calculate tax line, you can edit the account after you calculate tax.
Note: You cannot reserve funds for a journal until you calculate tax for that journal.
Note: The Status region on the Batch window will display the current statuses for Posting, Funds reservation, and journal Approval.
Tax Code: a user-defined Receivables tax code (if the tax type is Output), or a Payables tax name (if the tax type is Input).
Rounding Rule: Up, Down, or Nearest rounding for tax amounts calculated from this entered amount.
Amount Includes Tax: enter Yes if this is a tax-inclusive amount.
Document Identifier, Document Date: (Optional, not validated) You can use these fields for storing a document number such as customer or vendor invoice number and date.
Customer/Vendor Name, Reference: (Optional, not validated)
Tax Registration Number: (Optional, not validated) VAT registration number.
If you have not already calculated tax for the reversed (original) journal, you can still manipulate the tax information for the reversing journal. For example, you can change the Tax field to Required then enter taxable lines and calculate tax. Or, you can delete all the tax information and change the journal's Tax field to Not required.
However, if you reverse a journal for which you have already calculated tax, you cannot remove the tax information from the reversing journal.
You cannot post a taxable journal until you have calculated tax for that journal.
Automatic Tax on Journal Entries
Entering Foreign Currency Journals
Generating Reversing Journal Batches
Defining Descriptive Flexfields for General Ledger
Defining Reverse Journal Entries
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