Set up tax accounting
Tax accounting lets you apply rules for recognizing income and expenses that follow your local tax laws. You can activate tax accounting features in Business Central by setting up tax registers.
To activate tax accounting
Choose the
icon, enter Tax Register Setup, and then choose the related link.On the General FastTab, select codes for the following dimensions.
Field Description Condition Dimension Code Select a dimension code that describes the condition of the tax register. Kind Dimension Code Select a dimension code that describes the type of tax register. Select the following fields to activate entries in the tax register.
Field Description Create Acquis. FA Tax Ledger Select to create fixed asset acquisition entries. Create Reclass. FA Tax Ledger Select to create fixed asset reclassification entries. Create Acquis. FE Tax Ledger Select to create future expense acquisition entries. Select the appropriate depreciation books in the Tax Depreciation Book and Future Exp. Depreciation Book fields. The depreciation books that you select shouldn't be integrated with the Business Central finance module.
Select the Create Data for Printing Forms check box to enable detailed tax register entry information to be printed on reports and forms.
Choose the Close button to close the window and save your entries.
For more information about how to set up and customize tax registers, see Create Tax Registers.
See also
Tax Accounting
Tax Registers
Create Tax Registers
Tax Differences