You want to know how to track your carry-over credits within Avatax
- Carry-over credits can be tracked by using the Liability Worksheet Carry Over Credit export report in your admin console.
- This is found by navigating to the Reports tab, and selecting Liability Worksheet Exports in the Standard Sales Tax Reports section.
- This report can only be run one month at a time.
- For multi-month frequencies, such as quarterly, the credits can only be found on the first month of the frequency after the initial month that it was excluded, on the liability worksheet and the report.
- For example: An excluded credit dated 2/12/2018, will populate on the February 2018 report but each period after that, it will only show on the first month of the frequency: April, July, October, etc.
- On that first month, the credit will show as Applied as it has several months to accrue tax liability.
- If, at the end of the cycle, the tax liability is still not enough to use the credit, the original report will update the status from Applied to Excluded.
- For example: On April 2018, the credit will show as Applied. By June 2018, if the tax liability is not enough to use the credit in full, the April 2018 report will be updated to reflect Excluded for that credit.