Tax Summary

The Tax Summary report provides balances of tax amounts for a specific period. This report is essential for reviewing your tax transactions and ensuring compliance with tax regulations.

Creating a New Tax Summary Report

To generate a Tax Summary report in Manager.io, follow these steps:

1. Navigate to the Reports Tab:

   • Click on the Reports tab in the left-hand menu to access all available reports.

2. Select Tax Summary:

   • In the list of reports, find and click on Tax Summary. This will open the Tax Summary report section.

3. Create a New Report:

   • Click on the New Report button to start configuring your new Tax Summary report.
   Tax SummaryNew Report

4. Configure Report Parameters:

   • Select the Reporting Period: Choose the specific period for which you want to view the tax amounts.
   • Set Additional Options (if available): Depending on your version of Manager.io, you may have additional settings to customize your report.

5. Generate the Report:

   • After configuring the parameters, click on the Create or Generate button to view your Tax Summary report.

Understanding the Tax Summary Report

The Tax Summary report typically includes:

• Tax Codes: A list of all tax codes used in transactions during the selected period.
• Taxable Amounts: The total amounts that taxes were applied to.
• Tax Amounts: The total tax collected or paid for each tax code.
• Balances: The net tax payable or receivable.

Use this report to:

• Review total taxes collected from sales.
• Verify taxes paid on purchases.
• Prepare tax filings and ensure accurate reporting to tax authorities.

---

By regularly reviewing the Tax Summary report, you can maintain accurate tax records and stay informed about your tax obligations.