Introduction
Before you begin the tax reconciliation process, reviewing the jurisdiction details that impact your general ledger is essential. Reviewing jurisdiction details entails examining each jurisdiction's nexus status, the date your company met physical or economic nexus, and the upcoming filing dates.
Once you've reviewed these jurisdictional specifics, you can assess their respective figures within a specified timeframe, which includes comparing gross and taxable sales and evaluating the total tax due. This comprehensive review lays the groundwork for reconciling transactions, returns, and balances with your general ledger.
Review jurisdiction details
You can review the general details of each jurisdiction, including its nexus status, filing date, number of taxable products, and more. Reviewing jurisdiction details can help provide the background information required to begin tax reconciliation.
Try reviewing jurisdiction details in the demo above ☝️
-
In the Anrok app
, go to Reconciliation. Take me there!
- Navigate to a
or
jurisdiction.
- Under Nexus status, review whether you are currently Remitting or Exposed within the jurisdiction.
- Under Nexus date, review the earliest date Anrok detects you reached economic or physical nexus in the jurisdiction.
- Under Next filing date, review your next estimated filing date based on the jurisdiction’s current filing frequency.
- Under # Products taxable, review the number of products within your product catalog that are taxable within the jurisdiction.
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Scroll to the right and click the Options Menu button
, then select View jurisdiction detail to review additional jurisdiction details (i.e. tax calculation start date, filing frequency, product taxability) or register in the jurisdiction.
Review jurisdiction amounts in period
You can view each jurisdiction’s gross sales, taxed amount, and tax due within a specified period. This can help you begin reconciling your transactions, returns, and balances to your general ledger.
Try reviewing jurisdiction amounts within a period in the demo above ☝️
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In the Anrok app
- Select a Start date and End date for reconciliation.
- Review the total gross sales, taxed amount, and tax due for all jurisdictions within the period.
- Navigate to a
- Under Gross sales, review all gross sales that occurred within the period before refunds.
- Under Non-taxed sales, review all non-taxable sales that occurred within the period, including exempt sales.
- Under - Refunds, review all refunds of taxed sales that occurred within the period.
- Under Taxed sales, review all taxed sales (gross sales less non-taxed sales and refunds) that occurred within the period.
- Under Tax due, review the sum of all tax calculated by Anrok for transactions that occurred within the period (which have not been paid within a return yet).