Use the PST (Provincial Sales Taxes) Invoiced Report to view all the provincial sales taxes receivable, as collected by Customer Order Entry and Accounts Receivable. Typically, you print this report when you prepare your tax return.
This report is most applicable to two-tax systems that are defined with the second tax system as PST.
The PST Input Tax Credit Report prints detailed information from the tax records for a range of tax period dates. The records are grouped and subtotaled by tax code. A negative value identifies a credit transaction. A total appears at the end of the report for all groups.
NOTE: The tax records are extracted from invoice history. If you purge invoice history before printing the report, any tax records prior to the report's date range are lost and do not appear on the report.
Invoice history does not contain postings you performed manually from the G/L journal to the PST G/L accounts. Also, if you generated PST account distributions from Customer Order Entry before posting them in A/R, and then adjusted the distributions manually, invoice history does not contain the adjustments. Therefore, the report does not reflect these secondary changes to the account balances.
In Customer Order Entry, he tax records are created when each invoice is printed and posted. The system does not alter these records, regardless of changes to the transaction in A/R or G/L.
If you enter invoices, credit memos, or debit memos directly in A/R (not from Customer Order Entry), the tax records are created based on the values in the special tax fields in the G/L distributions. When you post the manual transactions, the tax records are created.
Compare the contents of the report to the PST account balances for the period reported from the G/L. If you find discrepancies, first verify that A/R does not contain unposted invoices or credit memos created from Customer Order Entry.
Then, make sure the A/R Distribution journal has been posted to the ledger. You may have additional discrepancies if you adjusted the PST account balances manually with journal entries, or adjusted the A/R Invoice G/L PST Account Distribution records manually. Only these discrepancies are acceptable.