I’m very new to Epicor, so forgive me if my explanation is a little all over the place.!
I am trying to prepare my organisation for making tax digital in the UK. As such I am focussing on the tax box report. I have a number of AR transactions in month X, but are appearing in month Y on the tax box report.
Upon investigating TaxTran, the transactions have a TranDate in month X, a TaxPoint of month X, but a SysDate in month Y.
It’s clear these were back posted, but the tax point is correct, and I would have expected the tax box report to respect this?
Can you determine which fiscal period the TaxTrans are actually hitting? If the period containing TranDate is currenlty closed when the posting happens, it forces the GL entry into the current period.
At least that’s how PartTrans work.
For example:
On 6/5, a PO Receipt is entered, but with a receipt date of 5/31
On 6/6, Accounting closes period 5
On 6/7, the Capture WIP/COS process is run (this is what posts Part Transactions to the GL).
The PartTran record would have a TranDate of 5/31, and a SysDate of 6/6.
The GLTran created by Capture WIP, will have a date of 6/1, because period 5 is closed, so it creates the GL tran with a TranDate of the 1st of the current period.
I’m also a UK customer, and we have the TaxBox report working correctly - although we did start configuring it as soon as MTD was announced, and it took a few months for accounting team to get it working 100% - some changes to Tax boxes, some changes to understanding of which report Epicor puts the transactions in.
I had to hammer home the point that it is related to Invoice/Tax date, and has nothing to do with Apply Date - my finance team love Fiscal Periods, and want to reconcile everything back to the GL. With VAT, I don’t think the GL and Tax for the month will ever be the same due to late arriving invoices, etc. But, the new report that is delivered as part of the MTD solution does show invoices that are in a different month/fiscal period, which hopefully closes that gap and allows them to verify the report vs GL.
I would check to see when the Tax Report for the month you think the invoices were in was posted. If the report for say April was posted on the 2nd May, and then you put another April invoice on the system on the 5th May, it will be included in the May Tax report as a outdated transaction. I think the report is honouring the TaxDate field, but only as up to the point that the Tax Report itself is posted - it can’t keep changing after you’ve reported to HMRC.
Hi Mark, I think I am having the same problem that you seem to have fixed!
If we go in now and post October invoices it will not pull them through on the next return unless we pull the whole of October and take out the prior entries that have appeared on a return which is done manually in Excel at the moment the the tax boxes amended in Epicor before the return is sent.
I am very interested in how you worked round this?