[ADD] accounting: How to manage cash basis taxes

https://docs.google.com/document/d/196GaaOFSL__OG3BQFteUGjuSqXcl_-95YonVLPXtmJc/edit
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Yannick Tivisse 2017-05-23 15:09:23 +02:00
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taxes/tax_included
taxes/retention
taxes/B2B_B2C
taxes/cash_basis_taxes

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==============================
How to manage cash basis taxes
==============================
The cash basis taxes are due when the payment has been done and not at
the validation of the invoice (as it is the case with standard taxes).
Reporting your income and expenses to the administration based on the
cash basis method is legal in some countries and under some conditions.
Example : You sell a product in the 1st quarter of your fiscal year and
receive the payment the 2nd quarter of your fiscal year. Based on the
cash basis method, the tax you have to pay to the administration is due
for the 2nd quarter.
How to configure cash basis taxes ?
------------------------------------
You first have to activate the setting in
:menuselection:`Accounting --> Configuration --> Settings --> Allow Tax Cash Basis`.
You will be asked to define the Tax Cash Basis Journal.
.. image:: media/cash_basis_taxes01.png
:width: 5.04688in
:height: 0.79688in
:align: center
Once this is done, you can configure your taxes in
:menuselection:`Accounting --> Configuration --> Taxes`.
You can open a tax and in the *Advanced Options*
tab you will see the checkbox *Use Cash Basis*. You will then have to
define the *Tax Received Account*.
.. image:: media/cash_basis_taxes02.png
:width: 6.50000in
:height: 1.81944in
:align: center
What is the impact of cash basis taxes in my accounting ?
----------------------------------------------------------
Lets take an example. You make a sale of $100 with a 15% cash basis
tax. When you validate the customer invoice, the following entry is
created in your accounting:
+-----------------------------+-----------------------+
| Customer Invoices Journal | |
+=============================+=======================+
| **Debit** | **Credit** |
+-----------------------------+-----------------------+
| Receivables $115 | |
+-----------------------------+-----------------------+
| | Tax Account $15 |
+-----------------------------+-----------------------+
| | Income Account $100 |
+-----------------------------+-----------------------+
A few days later, you receive the payment:
+----------------+--------------------+
| Bank Journal | |
+================+====================+
| **Debit** | **Credit** |
+----------------+--------------------+
| Bank $115 | |
+----------------+--------------------+
| | Receivables $115 |
+----------------+--------------------+
When you reconcile the invoice and the payment, this entry is generated:
+--------------------------+----------------------------+
| Tax Cash Basis Journal |
+==========================+============================+
| **Debit** | **Credit** |
+--------------------------+----------------------------+
| Tax Account $15 | |
+--------------------------+----------------------------+
| | Tax Received Account $15 |
+--------------------------+----------------------------+
| Income Account $100 | |
+--------------------------+----------------------------+
| | Income Account $100 |
+--------------------------+----------------------------+
.. tip::
The two journal items created in the Income Account are neutral but
they are needed to insure correct tax reports in Odoo.

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