Enhanced interface

Define boxes for tax detail box report

You no longer need to calculate your VAT or GST tax returns outside of Sage Intacct to get insight into your upcoming tax burden. Custom tax reports let you calculate your tax burden for a defined period so you know what to expect before you start your tax submission. Or you can select a standard or custom tax solution and run a tax report on an existing tax submission.

Custom tax reports give you the flexibility to create powerful reports that match the box reports required by your tax authority. Creating these reports is a three-step process. First you define the boxes to include in the report, then you define the tax report format. After that, you can run the tax report whenever you want insight into your company's tax burden.

Defining your boxes is the key to creating a robust custom tax report. You can set the tax details to be included in the box calculation, the calculation method, the transaction type, and how the box amount is displayed in the report. Our calculation field even lets you create a derived calculation box that pulls from previously defined boxes.

Subscription	Taxes
Regional availability	All regions
User type	Business
Permissions	Taxes Tax reports: List, View, Add, Edit, Delete Reports, Tax reports: Run

Go to Taxes > Setup > Tax reports > Tax report boxes and select Add.
Select a Tax solution.
Enter a Box ID.
The Box ID must be unique within the selected Tax solution, but you can reuse the same Box ID with a different Tax solution. For example, a tax solution can only have one Box 1, but each tax solution can have its own Box 1.
Enter a Box label to display in the tax report.
Enter a Description.
Select checkboxes for how to display the box amounts in the summary tax report. You can choose one or more of the following options:
Set negative to zero - Box amounts that result in negative balances display as zero.
Absolute - Box amounts display as absolute value.
Truncate - Box amounts display as truncated to whole amounts.
Round - Box amounts display as rounded to nearest whole amount.
The display options for Set negative to zero, Absolute, Truncate, and Round only apply to the summary report. These options are not displayed in the detail report.
Select one of the following options for the Box type: Net amount only, Tax amount only, Net and tax amount, or Calculation.
If you selected a Box type of Net amount, Tax amount, or Net and tax amount, select a Transaction type for the box: Debit and credit transactions, Debit transactions, or Credit transactions
In the Tax detail section, enter the Tax detail ID for all tax details to include in the box calculations.
If you selected Calculation for the Box type, enter the box calculation formula.
This formula is often defined for the box on the tax form. If you selected Calculation, you do not need to provide Tax detail IDs.
Select Validate to run a basic validation check on the formula entered.
Select Save.

The Calculation option lets you create a report box that derives the displayed amount by applying a calculation formula to one or more already-defined boxes.

For example, you create Box 1 to display the net and tax amount for all credit transactions for a selected list of tax details. Then you create Box 2 to display the net and tax amount of all debit transactions for that same list of tax details. When you create Box 3, you can use the calculation field to define it as [Box 1] + [Box 2]. When you include Box 3 in your report, it will display the sum of the amounts for Box 1 and Box 2.

The Box ID is used to create the box calculations. You can also define a Box label that's different than the Box ID to use in the report.

Next step: After you define all the boxes for your tax report, Create the tax report format.