Introduction
Anrok built the Reconciliation page to give you an instant view of sales tax balances for any period, which can help take the manual work out of monthly reconciliation. For jurisdictions where you are remitting sales tax, the balance tool will automatically reveal your starting and ending balances at any time. The ability to see starting and ending balances allows you to quickly check if the balances in your general ledger last year check the starting balance in Anrok.
Within the balance tool, pre-populated columns make it easy to see where discrepancies may come from. For example, the Reconciliation page breaks out state discounts, penalties, interest, and other adjustments so you can see where these adjustments (typically not numbers recorded in your general ledger) and add them to your journal entries.
The Reconciliation page also allows you to export each jurisdiction’s reported tax balances. Exporting balances ensures you can attach relevant information to your journal entries as evidence, making it an excellent backup for journal entries needed for general ledger reconciliation.
Note
The Reconciliation page’s balance and export tools are enterprise features available on Anrok’s Growth plans. Please contact hello@anrok.com to upgrade and unlock the full suite of pre-built reconciliation reports.
Show balances in period
You can show your beginning and ending balances within jurisdictions to review the tax due, tax paid, state discounts and credits, penalties, interest, and more accumulated within a period. View balances can help you reconcile the amounts at the beginning of the period to those left at the end.
Try showing balances within a period in the demo above ☝️
-
In the Anrok app
, go to Reconciliation. Take me there!
- Select a Start date and End date for reconciliation, then click Show balances.
- Review the total beginning balance, tax due, tax paid, and ending balance for all jurisdictions within the period.
-
Navigate to a
jurisdiction, then under Beginning balance, review the total tax balance at the beginning of the period.
- Under + Tax due, review the sum of all tax calculated by Anrok for transactions that occurred within the period.
- Under - Tax paid, review the sum of tax due (as adjusted for the applicable state credits and rounding) that was actually remitted to the jurisdiction within the period.
- Under - State discounts / credits, review the sum of state discounts and credits from returns submitted in the period.
- Under + Penalties / interest, review the sum of state penalties and interest from returns submitted in the period.
- Under +/- Other adjustments, review the sum of other adjustments from returns submitted in the period, including business taxes like Washington B&O.
- Under Ending balance, review the total tax balance at the end of the period.
Export balances in period
You can export your balances within a specified period to view each jurisdiction's beginning and ending balances. This can be a great backup for journal entries needed for general ledger reconciliation.
Try exporting balances within a period in the demo above ☝️
-
In the Anrok app
- Select a Start date and End date for reconciliation, then click Show balances.
- Click Export, then select Export balances.
- On the exported CSV file, under the Beginning balance and Ending balance columns, compare their amounts for each jurisdiction.