Tax Reconciliation Interface

The Tax Reconciliation module includes to both Value Added Tax (VAT) and Withholding Tax (WHT) reconciliations. If you do not use WHT, the name becomes VAT Reconciliation.

This interface allows you to reconcile VAT and WHT to ensure the correct amounts are paid or claimed from the relevant revenue services. These reconciliations do not update the transactions other than changing reconciled transactions to read-only.

The following tax types are supported:

• WHT Payable: Reconciles the amounts you withheld from suppliers. The WHT Account is credited with the amounts withheld and debited with the payment made to the tax authorities.
• WHT Offset: Reconciles the amounts deducted from your invoices over the financial year. The WHT Account is debited, and a journal entry can be done to credit the WHT account and debit a WHT expense account.
• VAT: Standard Invoiced-based model. The VAT Control account is debited and credited from the various transactions like customer and supplier invoices and expenses. The VAT payment or refund should result in a zero balance on the VAT Control account (e.g. the VAT payment made during July should equal the balance of the VAT account at the end of June).

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List View

Buttons Explained

Button	Description
View	Displays a list of recons.
Arrow on View button > Reset Data Filter	Resets the selected filters.
New	Creates one of these reconciliations as selected from the dropdown list: – VAT – WHT Payable – WHT Offset
Output	Exports the selected report in .xlsx, .htm or .csv format.
Menu	Show Notes Settings – Edit User Access – Edit Accounting (Accounts, VAT Types, Currencies, Credit Terms, Bank Profiles)  – Edit Statuses Layout

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Filters Explained

Filter	Description
Set	A selection of date options including No Date to display all the entries.
Dates	Allows custom dates to be entered.
Arrows	Adjusts the dates in the direction of the arrow.
Entity	Allows a specific Registered Entity to be selected.
Status Groups	Checkboxes to filter the entries based on the status groups. If none of the boxes are checked, all the entries are displayed.

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Fields Explained

Field	Description
Status	The status of the reconciliation.
No.	The system-generated number allocated to the entry.
Tax Type	The tax selected for the recon (e.g. VAT, WHT).
Entity	The registered entity for which the recon was completed.
From	The start date of the recon After the first recon is created, this date is automatically set as the day after the previous recon ended.
To	The end date of the recon
Out of Period	The total amount due from previous periods that were not included in a recon. Amounts are displayed in red if a refund is due (VAT only).
Output	The total output that is due for the period which includes the Out-of-Period amount.
Input	The total input that may be claimed for the period which includes the Out-of-Period amount.
Balance	The total amount payable (positive balance) or refundable (red, negative balance).
Widget	A submenu with the following actions: – Edit: Opens the reconciliation for editing. – Delete XXX Reconciliation: Deletes the reconciliation where XXX represents the type of reconciliation.

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VAT Reconciliations Edit View

Buttons Explained

Button	Description
Arrows	Navigates between the reconciliations.
Output	Generates reports if templates are added. Allows the items to be exported.
New	Creates one of these reconciliations as selected from the dropdown list: – VAT – WHT Payable – WHT Offset
Save	Saves any changes
Done	Changes the reconciliation’s status to Complete.
Actions	Delete VAT Reconciliation: Deletes the VAT reconciliation.
Menu	Settings – Edit User Access – Edit Accounting (Accounts, VAT Types, Currencies, Credit Terms, Bank Profiles)  – Edit Statuses Layout

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Fields Explained: Header

Field	Description
Status	A dropdown list of statuses to select a header status.
Status Bar	An area to type a note.
No.	The system-generated number allocated to the reconciliation.
Entity	A dropdown list of registered entities to select one.
From	The start date of the reconciliation.
To	The end date of the reconciliation.
Total Section
Output	The total output amount that was on the transactions included in the reconciliation.
Input	The total input amount that was on the transactions included in the reconciliation.
Balance Due	The amount that is payable or refundable (negative balance).
Transaction section	Lists the totals per transaction.
VAT Types section	Lists the totals per VAT Type.

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Fields Explained: Transactions

Buttons and Checkbox	Description
Items (button)	Opens an interface to add transactions for the selected period.
Synchronise Ledger	Automatically opens the clicked transaction on the right panel.
Remove	Removes all the selected entries.

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Fields	Description
ID	The system-generated number for the entry.
Status	The item’s status where item refers to the transaction (which is an item on a reconciliation).
Trans No.	The original Transaction Type code and number (e.g. CI 45 where CI represents the Customer Invoice and 45 is the invoice number).
Trans	The transaction’s code (e.g. CI for Customer Invoice). This field is included in Trans No. but also listed separately for filtering and grouping purposes.
No.	The transaction’s number. This field is included in Trans No. but also listed separately for filtering and grouping purposes.
Date	The date of the transaction.
Reference	The reference field entered on the transaction.
Item No.	The item number of the entry on the transaction (i.e. the line number).
Description	The item’s description.
VAT Type	The VAT Type selected for the transaction.
Output	The VAT amount on the transaction where the VAT Category was Output+ (e.g. customer invoices) or Output- (e.g. customer credit notes).
Input	The VAT amount on the transaction where the VAT Category was Input+ (e.g. supplier invoices) or Input- (e.g. supplier debit notes).
Total (exc)	The total VAT exclusive amount on the transaction. The total at the bottom of the column sums the values in the column and does not deduct debits from credits or vice versa.
VAT	The total VAT on the transaction. The total at the bottom of the column sums the values in the column and disregards if the transaction debited or credited VAT Control.
Total (inc)	The total VAT inclusive amount on the transaction. The total at the bottom of the column sums the values in the column and does not deduct debits from credits or vice versa.
Widget	A submenu with the following actions: – Open Ledger: Opens the transaction on the right panel. – Remove Transaction: Removes the transaction from the VAT recon. This step is necessary if the transaction must be edited.

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WHT Offset Reconciliations Edit View

WHT Offset refers to the WHT deducted from you by your customers. In Thailand, these offsets may be deducted as an expense on your Statement of Profit or Loss. This reconciliation helps you determine the correct amount.

Buttons Explained

Button	Description
Arrows	Navigates between the reconciliations.
Output	Generates reports if templates are added. Allows the items to be exported.
New	Creates one of these reconciliations as selected from the dropdown list: – VAT – WHT Payable – WHT Offset
Save	Saves any changes
Done	Changes the reconciliation’s status to Complete.
Actions	Delete WHT Offset Reconciliation: Deletes the reconciliation.
Menu	Settings – Edit User Access – Edit Accounting (Accounts, VAT Types, Currencies, Credit Terms, Bank Profiles)  – Edit Statuses Layout

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Fields Explained: Header

Field	Description
Status	A dropdown list of statuses to select a header status.
Status Bar	An area to type a note.
No.	The system-generated number allocated to the reconciliation.
Entity	A dropdown list of registered entities to select one.
From	The start date of the reconciliation.
To	The end date of the reconciliation.
Amount	The total withholding tax on all the transactions included in the reconciliation.
Transaction section	Lists the totals per transaction.
WHT Accounts	Lists the totals per account created (Current Assets / Customers only).

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Fields Explained: Transactions

Buttons and Checkbox	Description
Items (button)	Opens an interface to add transactions for the selected period.
Synchronise Ledger	Automatically opens the clicked transaction on the right panel.
Remove	Removes all the selected entries.

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Fields	Description
ID	The system-generated number for the entry.
Status	The item’s status where item refers to the transaction (which is an item on a reconciliation).
Trans No.	The Transaction Type code and number (e.g. CI 45 where CI represents the Customer Invoice and 45 is the invoice number).
Trans	The transaction’s code (e.g. CI for Customer Invoice). This field is included in Trans No. but also listed separately for filtering and grouping purposes.
No.	The transaction’s number. This field is included in Trans No. but also listed separately for filtering and grouping purposes.
Date	The date of the transaction.
Reference	The reference field entered on the transaction.
Item No.	The item number of the entry on the transaction (i.e. the line number).
Description	The item’s description.
Dr Account	The account that was debited.
Cr Account	The account that was credited.
Account	The WHT account that the tax was posted to.
Amount	The WHT amount.
Total (exc)	The total VAT exclusive amount on the WHT transaction.
VAT	The total VAT on the WHT transaction.
Total (inc)	The total VAT inclusive amount on the WHT transaction.
Widget	A submenu with the following actions: – Open Ledger: Opens the transaction on the right panel. – Remove Transaction: Removes the transaction from the recon. This step is necessary if the transaction must be edited.

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WHT Payable Reconciliations Edit View

WHT Payable refers to the WHT you deducted from your suppliers. In Thailand, these amounts must be paid over to the revenue services by the 7th of the following month. This reconciliation helps you determine the correct amount to pay.

Buttons Explained

Button	Description
Arrows	Navigates between the reconciliations.
Output	Generates reports if templates are added. Allows the items to be exported.
New	Creates one of these reconciliations as selected from the dropdown list: – VAT – WHT Payable – WHT Offset
Save	Saves any changes
Done	Changes the reconciliation’s status to Complete.
Actions	Delete WHT Payable Reconciliation: Deletes the reconciliation.
Menu	Settings – Edit User Access – Edit Accounting (Accounts, VAT Types, Currencies, Credit Terms, Bank Profiles)  – Edit Statuses Layout

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Fields Explained: Header

Field	Description
Status	A dropdown list of statuses to select a header status.
Status Bar	An area to type a note.
No.	The system-generated number allocated to the reconciliation.
Entity	A dropdown list of registered entities to select one.
From	The start date of the reconciliation.
To	The end date of the reconciliation.
Amount	The total withholding tax on all the transactions included in the reconciliation.
Transaction section	Lists the totals per transaction.
WHT Accounts	Lists the totals per account created (Current Liabilities / Suppliers only).

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Fields Explained: Transactions

Buttons and Checkbox	Description
Items (button)	Opens an interface to add transactions for the selected period.
Synchronise Ledger	Automatically opens the clicked transaction on the right panel.
Remove	Removes all the selected entries.

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Fields	Description
ID	The system-generated number for the entry.
Status	The item’s status where item refers to the transaction (which is an item on a reconciliation).
Trans No.	The Transaction Type code and number (e.g. SP 9 where SP represents the Supplier Payment and 9 is the transaction number).
Trans	The transaction’s code. This field is included in Trans No. but also listed separately for filtering and grouping purposes.
No.	The transaction’s number. This field is included in Trans No. but also listed separately for filtering and grouping purposes.
Date	The date of the transaction.
Reference	The reference field entered on the transaction.
Item No.	The item number of the entry on the transaction (i.e. the line number).
Description	The item’s description.
Dr Account	The account that was debited.
Cr Account	The account that was credited.
Account	The WHT account that the tax was posted to.
Amount	The WHT amount.
Total (exc)	The total VAT exclusive amount on the WHT transaction.
VAT	The total VAT on the WHT transaction.
Total (inc)	The total VAT inclusive amount on the WHT transaction.
Widget	A submenu with the following actions: – Open Ledger: Opens the transaction on the right panel. – Remove Transaction: Removes the transaction from the recon. This step is necessary if the transaction must be edited.

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