Exact Globe

Product Update 417: Tax date enhanced (Polish legislation)

The tax date for the journal reporting of the Polish legislation has been enhanced as follows:

Journal maintenance

The Tax date field has been added under the General tab in the journal maintenance screen. The field can be defined to indicate the type of tax date that will be used for the transactions that will be created for the journals. The field will always be enabled for the Sales, Purchase, or General journal type, and will be disabled for the Cash or Bank journal type.

The options that are available at this field are as follows:

• Date – Select this option to use the date of the journal entries as the tax date.
• Reporting date – Select this option to use the reporting date as the tax date.
• Fulfilment date – Select this option to use the fulfilment date as the tax date.
• Empty – Select this option to use the blank value as the tax date.
• Latest due date – Select this option to use the latest due date as the tax date.

In the case that the value at the field is changed for journals with the existing financial entries, the following message will be displayed:

Journal overview screen

The Tax date column has been added in the journal overview screen. The column will display the type of tax date for the journals.

Entry creation

During the creation of the sales invoices, sales credit notes, purchase invoices, and purchase credit notes, the type of the tax date will be automatically assigned based on the option that has been selected in the journal maintenance screen.

For example, if the option Date has been selected in the journal maintenance screen, a sales entry with the selected type of tax date will be created as follows:

For example, a sales entry is created via Finance ➔ Entries ➔ Sales. The date of the entry header is Jan 1, whereas the reporting date is Feb 1, and the fulfilment date is Mar 1. Therefore, the value of the tax date for this entry is Jan 1, as the value of the tax date will be retrieved from the date at the entry header.

Analytical accounting

You are allowed to change the type of tax date for existing transactions via the Analytical accounting functionality (accessible via Finance ➔ General ledger ➔ Analytical accounting). This is applicable when the option Our ref. is selected at the Group by field.

The Tax date column will be displayed in the screen when the entries are grouped by Our ref. or None. By default, the Tax date column will be displayed as the last column. In addition, the Tax date button has been added to serve the different functions that are not supported via the Change button. The Tax date button will be enabled when the following conditions are met:

• users have the rights to the Journal and Change functions but do not have the Close period checking option enabled,
• the entries are grouped by Our ref.,
• all of the selected entries are of the supported transaction types, which are the sales invoices, sales credit notes, purchase invoices, purchase credit notes, and reversal credit notes,
• none of the selected entries are not voided, and        
• none of the selected entries are payroll transactions.

By clicking the Tax date button, the Change: Tax date selection screen will be displayed. In this screen, there are three options available for selection at Option. The fields that will be displayed in the screen will differ based on the option that has been selected. 

When the option Manually has been selected, the following screen will be displayed: 

In this screen, you can define the tax date that will be used by typing the date or clicking the  icon. By making this modification, the defined date will be updated for all of the selected entries.

When the option Tax date has been selected, the following screen will be displayed:

In this screen, you can define the type of tax date by selecting any of the options at Tax date. By making this modification, the type of tax date will be updated for all of the selected entries.

When the option Apply journal setting has been selected, the following screen will be displayed:

By selecting this option, the option that has been selected in the journal maintenance screen will be applied to the entries, based on the type of tax date that been selected for the respective journals.

Viewing tax dates in the general ledger cards, invoice lists, and VAT overview

Currently, there is no direct way to display entries that are of the Empty tax date type. However, the entries can be displayed by selecting the All check box at the Tax date filter option and selecting the Tax date option at the Range filter option.

General ledger cards

The following screen displays the options that have been added and can be selected to view the entries and the tax dates:

Invoice lists

The following screen displays the options that have been added and can be selected to view the entries and the tax dates:

VAT overview

The following screen displays the options that have been added and can be selected to view the entries and the tax dates:

Note: The Tax date option and column are also available in the Zoom mode.

Matching logic

The matching logic for the tax date will be performed only when the purchases and sales invoices have been fully paid or received. The system will update the tax date for the invoices or credit notes when the following criteria have been met:

• the invoice date is earlier or the same as the receipt or payment date,
• the receipt or payment date must be earlier than the invoice tax date, and
• the invoice tax date must not be blank. 

Note: If there is a balance in an entry during the matching, the balance can be booked to any of the write-off options. Entries that have been created as a result of the matching, and that are related to a discount or payment difference, cannot have their tax dates changed via the Analytical accounting functionality as the transaction type is classified as Others. However, in the case that the transaction types are of the supported transactions, the tax dates can be changed via the functionality.