CashFlowMapper - Consumption Taxes

Consumption Taxes

This feature is optional. It's recommended if you pay consumption tax (GST, VAT, Sales Tax…) as CFM will map your tax remittances / refunds – refer Tax Reporting.

Refer to the video on this feature at our YouTube Channel.

System Tax Calendars

• Select the System Tax Calendars menu option.
• Select your jurisdiction, and a list of available calendars appears.
• You can copy the calendar to “My Tax Calendars” if you want to use it as a base to create your own calendar.

• “Occurrence” shows how the calendar will map your transactions.
  • This is an accrual / invoice date-based calendar, so transactions with an invoice date between 1^st January & 31^st March are remitted on the 28^th of April.

• In a cash / payments-based calendar transactions with a payment date between 1^st January & 31^st March are remitted on the 28^th of April.

My Tax Calendars

Tax calendars that you have copied from System Tax calendars and tax calendars you’ve created yourself are filed here. If you are editing / creating a calendar, here are the rules.

1. Return Type is “invoice” or “cash”. This determines whether tax incidence is based on invoice date or cash transaction date.
2. Calendar base can be used as a guide to determine period ranges.
3. Period ranges can’t overlap or have gaps and must together cover a full calendar year.
4. Occurrence is the remittance date for tax of each respective period.
5. Select as many tax codes as needed and enter rates.
6. Once you’ve hit the “Save tax calendar” button, the calendar will be available for adding to your plans.

There are codes in system calendars to cater for those used in accounting packages. For example, in the Australian calendars, “CAP”, “CAG” & “NCG” are used for GST, so they are included in the calendars.