1. Country-Specific Features
  2. Spain Help Topics
  3. Spain-Specific SuiteApps
  4. Spain Localization
  5. Required Setup for Using the Spain Localization SuiteApp
  6. Required Account Settings

Required Account Settings

Setting the Reporting Frequency for Spain VAT Reports

Before you generate your VAT reports, you must set the reporting frequency for Modelo 303 and Modelo 349 based on your business needs. You can choose either a quarterly or monthly reporting frequency.

To set the reporting frequency:

  1. Go to Setup > Tax Reporting > Country Tax Report Preferences.

  2. On the Period Filters subtab, review and change the settings in the Reporting Frequency column for Modelo 303 and Modelo 349 reports.

    Note:

    Depending on your SII reporting requirements, you must set the reporting frequency for Modelo 303 accordingly. Take a look at these situations before you set the reporting frequency:

    • If you're required to report SII, choose the monthly reporting frequency.

    • If you report SII voluntarily, choose either the monthly or quarterly reporting frequency, depending on whether you're registered in the Monthly Refund Regime (REDEME).

  3. Click Save.

For more information, see Setting Up Country Tax Reporting Preferences.

Setting Up Accounting Periods for a Year

At the start of each year, you must set up accounting periods for that year. To make sure everything's set up correctly, follow the procedure described in Setting Up Accounting Periods for a Year.

Assigning Tax Item Type for your Transactions with Item Records

Items are the goods and services you sell to customers, plus the parts and raw materials you buy from vendors. Your transactions with item records are only included in the generated reports if you select a value in the Tax Item Type field and mark whether your items are Goods or Services.

To set the tax item type:

  1. Go to Lists > Accounting > Items.

  2. Click Edit next to the item you want to update.

  3. Click the Tax subtab.

  4. In the Tax Item Type field, select a tax item type from the list.

  5. Click Save.

Note:

Even though journal entry transactions aren't linked to items, their tax lines use the same logic in the Tax Item Type field. If you leave the field on journal entry lines blank, such tax lines won't be included in the Modelo 303 and Modelo 390 reports.

The tax item type assignment doesn't affect posting and taxable transactions that aren't linked with items, like expense reports.

For more information, see Tax Item Types in the SuiteTax Engine.

Related Topics

General Notices