Tax Report Specification Workspace

Use this workspace to create and edit tax report specifications.

You must have the Extended Tax Reporting add-on to use this workspace.

Maconomy uses the information in this workspace only if you selected the Extended Tax Reporting field in the System Information workspace.

A tax report specification determines which tax report fields are reported on when you post invoice journals, vendor invoice journals, reallocation journals, and general journals. You create tax report fields in the Tax Report Fields workspace. You print the tax report in the Print Tax Report workspace.

In the Tax Direction field, choose whether to work on a tax report specification for sales or purchases. Then create and edit individual tax report specification lines.

Each line determines which tax report fields are being reported on for a combination of item tax code, company tax code, tax rate, tax type, and nature of tax. When posting, Maconomy updates values and applies all of the tax report specification lines that apply to an entry. These updated values are used when you print the report.

For auditing purposes, Deltek recommends that you print and file your tax report specifications every time that you change them. Use the Print This function.

Sources of Information

When posting, Maconomy retrieves information from the following sources.

Posting invoices and credit memos:

• Tax Direction—Sale
• Company Tax Code—From the ship-to customer
• Item Tax Code—From the item or charge
• Tax Rate—From the item or charge
• Invoice/credit memo— Invoice fields for posting invoices, credit memo fields to post credit memos

Posting job invoices and job credit memos:

• Tax Direction—Sale
• Company Tax Code—From the ship-to customer
• Item Tax Code—From the activity
• Tax Rate—From the activity
• Invoice/credit memo— Invoice fields for posting job invoices, credit memo fields to post job credit memos

Posting invoices on account:

• Tax Direction—Sale
• Company Tax Code—From the ship-to customer
• Item Tax Code—From the System Information workspace
• Tax Rate—From the System Information workspace
• Invoice/credit memo— Invoice fields for posting invoices on account

Note: Maconomy updates the values for the tax fields when you post an invoice. The amount is reverted if you offset the invoice on account on a final invoice.

Posting allocated vendor invoices, vendor credit memos, and reallocation journals:

• Tax Direction—Purchase
• Company Tax Code—From the vendor
• Item Tax Code—From the allocation/reallocation line
• Tax Rate—From the allocation/reallocation line
• Invoice/credit memo— Invoice fields for posting vendor invoices, credit memo fields for posting vendor credit memos

Posting non-allocated vendor invoices, vendor credit memos:

• Tax Direction—Purchase
• Company Tax Code—From the vendor
• Item Tax Code—From the System Information workspace
• Tax Rate—From the System Information workspace
• Invoice/credit memo— Invoice fields for posting vendor invoices, credit memo fields for posting vendor credit memos

Note: Maconomy updates the values in the tax report when it posts the reallocation journal.

Posting general journals:

• Tax Direction—From the general journal line
• Company Tax Code—From the general journal line
• Item Tax Code—From the general journal line
• Tax Rate—From the general journal line
• Invoice/credit memo— Invoice fields when posting debit entries to vendors and credit entries to customers, and credit memo fields when posting debit entries to customers and credit entries to vendors