How Tax Reporting is Processed

Generate tax reports in summary or detail mode.

To generate tax reports, you must complete these prerequisites:

1. Set up your tax reporting configuration.

2. Create country-specific templates used for tax reporting.

   Note: For Italy and Spain, a set of ready-to-use templates are available for tax reporting.

Tax reporting steps:

1. Select the tax transactions using the Tax Reporting Selection Process.

2. Generate preliminary reports.

3. Submit the Tax Final Reporting Process.

4. Generate the final reports.

5. Reprint final reports if needed.

Settings That Affect Tax Reporting

Run the Tax Reporting Selection Process to mark the tax transactions within a tax period.

This table describes selected process parameters:

Name	Description
Reporting Level	Enter the reporting level for which you want to select transactions. It can be ledger, legal entity, or tax registration number.
Ledger	Enter the name of the ledger. If you have selected ledger as the reporting level, then you must enter the ledger name.
Tax Registration Number	Select the appropriate tax registration number. When the reporting level is: Legal entity, filter transactions based on the tax registration number, tax regime, and legal entity. Ledger, you must select the tax registration number to determine the tax calendar for your reporting entity.
Source	Specify input tax, output tax, or both.

How Tax Is Reported

To generate reports, execute these steps:

1. Select the tax transactions

   The Tax Reporting Selection Process marks all the transactions eligible for reporting.

   You can run this process repeatedly provided you haven't completed final reporting for the selected tax period. Only accounted transactions can be marked by the selection process.

   Note: The Tax Reporting Selection Process considers corrections or backdated transactions only when the previous period is finally reported.

2. Generate preliminary reports

   After selecting the transactions, run the tax reports. Tax reports that are run for an open tax period are considered preliminary reports.

   You can run preliminary reports more than once. Use these reports to verify and correct data before reporting to the tax authorities.

3. Generate final reports

   Run the Tax Final Reporting Process to mark all the tax transactions as finally reported. If you make changes to the transactions before running the final process, you must run the Tax Reporting Selection Process to generate preliminary reports. Once the report data is correct, run the Tax Final Reporting Process.

   The Tax Final Reporting Process marks transactions as finally reported to avoid double reporting, and closes the tax reporting period. Once the tax reporting period is closed, you can't run the Tax Reporting Selection Process for that period. All transaction tax changes made in the finally reported period are reported as corrections in the subsequent periods.

4. Print final reports

   After completing the final process, print the final reports.

   Note: You can print final reports more than once.

   To reprint final reports, search by:

   • Reporting identifier

   • Tax calendar period

   • Report name

Print the report from the Finalized Transaction Tax Reports page in the Financial Reporting Center.