Merge pull request #339 from odoo/12.0-cash-basis-fgi
[IMP] Accounting: Update v12.0 of tax cash-basis doc
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@ -26,13 +26,19 @@ You will be asked to define the Tax Cash Basis Journal.
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Once this is done, you can configure your taxes in
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:menuselection:`Accounting --> Configuration --> Taxes`.
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You can open a tax and in the *Advanced Options*
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tab you will see the checkbox *Use Cash Basis*. You will then have to
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define the *Tax Received Account*.
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At first set the proper transitional accounts to post taxes
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until you register the payment.
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.. image:: media/cash_basis_taxes02.png
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:width: 6.50000in
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:height: 1.81944in
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:align: center
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In the *Advanced Options* tab you will turn *Tax Due* to
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*Based on Payment*. You will then have to
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define the *Tax Received* account in which to post the tax amount
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when the payment is received and the *Base Tax Received Account*
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to post the base tax amount for an accurate tax report.
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.. image:: media/cash_basis_taxes03.png
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:align: center
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What is the impact of cash basis taxes in my accounting ?
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@ -42,17 +48,17 @@ Let’s take an example. You make a sale of $100 with a 15% cash basis
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tax. When you validate the customer invoice, the following entry is
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created in your accounting:
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+-----------------------------+-----------------------+
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| Customer Invoices Journal | |
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+=============================+=======================+
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| **Debit** | **Credit** |
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+-----------------------------+-----------------------+
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| Receivables $115 | |
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+-----------------------------+-----------------------+
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| | Tax Account $15 |
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+-----------------------------+-----------------------+
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| | Income Account $100 |
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+-----------------------------+-----------------------+
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+-----------------------------+---------------------------+
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| Customer Invoices Journal | |
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+=============================+===========================+
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| **Debit** | **Credit** |
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+-----------------------------+---------------------------+
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| Receivables $115 | |
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+-----------------------------+---------------------------+
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| | Temporary Tax Account $15 |
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+-----------------------------+---------------------------+
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| | Income Account $100 |
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+-----------------------------+---------------------------+
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A few days later, you receive the payment:
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@ -73,7 +79,7 @@ When you reconcile the invoice and the payment, this entry is generated:
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+==========================+============================+
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| **Debit** | **Credit** |
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+--------------------------+----------------------------+
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| Tax Account $15 | |
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| Temporary Tax Account $15| |
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+--------------------------+----------------------------+
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| | Tax Received Account $15 |
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+--------------------------+----------------------------+
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@ -83,5 +89,7 @@ When you reconcile the invoice and the payment, this entry is generated:
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+--------------------------+----------------------------+
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.. tip::
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The two journal items created in the Income Account are neutral but
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they are needed to insure correct tax reports in Odoo.
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The last two journal items are neutral but they are needed to insure
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correct tax reports in Odoo with accurate base tax amounts.
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We advise to use a default revenue account.
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The balance of this account will then always be at zero.
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