Tax Withholding
The function Tax Withholding is available for Period closing and Year-end closing and is found under Reconciliation BS - VAT & fees.
Reconciliation of Tax Withholding is an automated reconciliation of data from five different sources:
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Tax Withholding (reference account 2600 in the chart of accounts)
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Bank deposits, tax withholdings (reference account 1950 in the chart of accounts)
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Reporting of A-messages to Altinn (A07 Reconciliation information)
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Payment voucher for the bimonthly payment of Tax Withholding (currently registered manually)
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Due deduction and contribution deduction (reference account 2610 and 2620 in the chart of accounts)
The feature for retrieving data from Altinn automatically fills in an order (form A-06) that generates a message (A07) for each month and for the year so far, which is retrieved from Altinn. This information contains information on payroll, payroll taxes and tax deductions that are used in the reconciliation.
By fetching data from Altinn and the financial system, and then comparing this, the reconciliation is performed and documented for account 1950 Bank deposits and account 2600 Tax withholding.
The only thing the user needs to do is check and enter voucher information (voucher number, date and amount) for when payment of the term.
By checking to Create Tax Withholding specification appendix automatically, reconciliation attachments will be produced for account 2600 Tax Withholding and 1950 Tax Withholding Deposit.
The reconciliation can be made for each month, but it is always made for pair of months as it is in the rules for the payment terms.
The reconciliation appendix for balance accounts is connected to account 2600, where the reconciliation amount for tax withholding for the term is shown. The amount will be the reported amount for last term collected from Altinn. If this amount is the same amount as the unpaid tax withholding on account 2600, then it will not be a difference on the account.
The reconciliation appendix for balance accounts is also connected to account 1950, but without amount. Then, it is easy to show if the tax withholding amount on the account is the same as the amount on account 1950 Bank deposits.
If account 1950 Bank deposits contains a provision for withholding tax or contribution tax, this will be taken into account and deducted when reconciling tax withholding.