Application Tax years and periods allows for adding a tax year which is required for postings including VAT tax. A fiscal year has to overlap with the calendar year. The application is available in Financial Accounting module.

Available buttons

In the application Tax years and periods standard buttons are available, and, additionally:

• [Previous status] – changing tax year/period status to previous one, in accordance with a list defined in Fiscal year status application.
• [Next status] – changing tax year/period status to the next one, in accordance with a list defined in Fiscal year status application.
• [Set current] – setting a tax year/period as current.

Identification pane

• Tax year – unique name within each period. Mandatory field.
• Description – additional data identifying tax period, one description can be used for many periods. Mandatory field.
• Begin – date of beginning of the tax year, overlapping with the first day of the calendar year. Field filled in automatically
• End – date of ending of the tax year, overlapping with the last day of the calendar year. Field filled in automatically
• Current year – parameter indicating whether the tax year was marked as current. The parameter can be activated for a year with Open or Temporarily closed status. Within an organization, only one tax year can be marked as current.
• Status – current tax year’s status. The list of available statuses is defined in the application Fiscal year status.
• Status – tax year’s status. Statuses are defined in the application Fiscal year status.
• Period status – status of tax periods is defined in the application Fiscal year status.

Adding tax year

In order to add a tax year:

• Select [New] button
• Complete fields in the identification pane

• • Tax year
  • Description
  • Status
  • Period status.
• Click on the [Save] button – within the tax year, tax periods overlapping with calendar months will be added.

Accounting periods vs fiscal periods

The relation between tax periods and fiscal periods referring to document posting, can be specified from the level of Customizing → [Functions] button →Defaulting → tab Posting → Tax period control field:

• Autonomous periods – tax years do not depend on fiscal periods
• Warning when periods differ – if the tax year does not overlap with the fiscal period, a warning is displayed during the attempt of posting
• Financial period is leading period – if the tax year does not overlap with the fiscal period, it is not possible to post a document