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Reconcile using the liability summary and reports

Managed Returns for Accountants provides the liability summary and a variety of reports to assist you as you reconcile amounts and totals with your clients' general ledger and accounting software.

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Note

At the top of the left Reporting Criteria pane, a Report Delay notice and tooltip are displayed showing the amount of time before recently added or edited transactions appear in the reports. Managed Returns for Accountants begins updating report data every 30 minutes.  

 

Before you begin

Familiarize yourself with the reports available in Managed Returns for Accountants.

Steps

  1. In Managed Returns for Accountants, go to Returns > Liability Summary.
  2. Run the summary for the company you are working with.
    Make sure the returns are built by checking the status:
    • The Pending Approval status means the return is ready.
    • The Building Returns status indicates that the system is in the process of including the final numbers.
  3. Once the returns are built, you can reconcile accurately.

  4. Select the Reports tab for additional Managed Returns for Accountants reports.
  5. In the Reports Criteria pane, select the report type and the company. The following reports are available:
    • Liability Carryover Credits: Shows the details of all applied or excluded credits at the tax return level for the selected month's returns
    • Liability Return Detail: Shows the tax return information for state or province and local regions for the selected month
    • Liability State Summary: Shows one row of liability data for each state or province for the selected month
    • Sales And Sellers Use Tax Jurisdiction Detail Combined View By Taxing Jurisdiction: Review transactions for jurisdictions in a state using the combined view
    • Sales and Sellers Use Tax Summary By Jurisdiction
    • Transaction Detail: Shows one row of data for each tax jurisdiction associated with each line on each transaction exported; this report includes sourcing (origin or destination), item codes, tax codes, customer codes, tax types, tax override amounts, and tax variance amounts
    • Consumers use Jurisdiction Detail Combined View By Taxing Jurisdiction: Review transactions for jurisdictions in a state using the combined view
    • Colorado Multi-Location: Helps you fill out local Colorado tax returns; includes state, county, city, and special taxing jurisdiction taxes for locations in Colorado for which you have transactions or have enabled nexus; this is the only report that includes your client's Colorado account number and site ID
    • Exemption Detail by Jurisdiction: Shows exempt and non-taxable sales details based on your client's committed AvaTax transactions
    • New York Apparel Taxation: Shows information to help fill out New York Schedule H forms
  6. Select the report dates by month or date range. If necessary, select Include Locked Transactions Only to show locked transactions after the liability summary has been approved.
  7. Under Advanced Setting, select country, region, form name, and tax type. Clear the settings, if necessary. The Advanced Setting offers additional filtering capability. Country is defaulted for the U.S on all reports but additional fields such as region, form name, and tax type can be adjusted as necessary.
  8. Under Columns, the setting allows you to customize reports. You can include or remove column information by dragging the Available or Selected fields:
    • To reorder the columns, drag the column title to another location in the list
    • Select Default to restore the list to its original order
    • Select Apply when you have completed your choices and order
  9. When you have completed your selections, select Execute. The report data is displayed in the table pane.
  10. Once the report is displayed, you can select the Export button to download a spreadsheet file of the report.

See also

Run reports to reconcile and monitor client returns
Understand the monthly Managed Returns for Accountants filing cycle
Managed Returns for Accountants

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