Setup Tax Accounting Period for GST in D365 BC:
(1) In this article we will get to know about the “Tax Accounting Period” for GST setup in Microsoft D365 Business Central. It is used when we want to close or ending the fiscal year. Without this setup, the system does not allow posting transactions.
(2) Now let’s see, how to create a Tax Accounting Period for GST in Business Central D365. Go to the search bar and type “Tax Type”, as shown.
(3) After selecting, the Tax Accounting Period page opens, as shown.
(4) In this blog, we will set up the Tax accounting Period for GST, so Select the GST line and double-click on it to open its card, as shown.
(5) After that, go to the “Accounting Period” field and open the Accounting Period List, as shown.
(6) After opening the list, select the GST code and press the assist button, as shown.
(7) After doing the above step, the Accounting Period Setup page opens, as shown.
(8) Now, Press the “Create” button, and a popup window opens, Enter the information, and press the “Ok” button, as shown.
- Tax Type → Specifies the tax type for the accounting period from the drop-down list.
- Starting Date → Specifies the date from which the report or batch job processes information.
- No. of Periods → Specifies how many accounting periods to include.
- Period Length → Specifies the period for which data is shown in the report. For example, enter “1M” for one month, “30D” for thirty days, “3Q” for three quarters, or “5Y” for five years.
(9) After filling in the above information, Tax Accounting Setup for GST is created, as shown.
