Country Specific Localisation report

This is a great new feature - thanks for developing it.

In Ireland, we have to submit a Return of Trading Details with information on Net Sales and Purchases for the year.

I have been able to create a report to do this very easily bit I have some requests to help improve the report

  1. Our report has 5 columns (1 description column plus 4 data columns) so I cannot prepare this format now but just have a list of the amounts using two column (description and amount)
  2. We report using euro without the decimal places - could we have a rounding option
  3. could we have an option to put Headings for the columns

This is still work in progress but not far off.

  1. Currently you can have up to three columns because that is what is needed for existing country-specific reports. I can add support for more in future.
  2. I think this will be an option on report itself where you will be able to show whole numbers like it’s already implemented on P&L and B/S
  3. This is already supported. Simply type "My column header (note the double-quote character) instead of selecting something and you will be able to create plain text element on-demand this way.

For a management report simplified display just showing whole numbers is appropriate as the reader is interested in concepts not actual numbers.

In form for submission to your tax authority actual numbers and legally permitted rounding options matter.

For example in an annual tax return to the ATO

  • income subgroups are rounded down (floor)
  • total income must be the sum of the rounded values
  • expense subgroups can be rounded up (ceiling)
  • total expenses must be the sum of the rounded values.
  • net taxable income must be income total minus the expenses total. Which typically differs from the same calculation done to 1 cent precision by multiple dollars.
  • in a trust the after tax profit is the distributed, the amount available for distribution varying if a different amount if tax is actually paid.

In summary for submissions to a tax authority rounding requires

  • specification of rounding method of sub values (floor, ceiling, or rounded)
  • addition / subtraction of intermediate values

Actually if proper rounding options and Custom fields for chart of accounts - #5 by Patch was available I would probably write an Australian Business tax return submission localisation for my own use and would be happy for other to use and build on it.

Link updated to correct post

As the new Report Transformations - No-code development platform does not support rounding, I will not pursue this approach. I have no use for a report transformation which generates false annual tax return accounting figures.

Two custom fields on accounts, a custom report, external rounding followed by simple arithmetic results in correct accounting figures, so would be used instead.

With Report transformation specifiable rounding and simple arithmetic, One custom field on accounts, a custom report to check allocation, and a report transformation could be used instead.

Is it OK to bump this up?

I would like to be able to specify 5 columns rather than 3, as the Irish Year-end VAT reporting has a 5 column report and it would be nice to be able to replicate this format

Otherwise I am happy with the Report Transformation as it is

The actual reporting tool is not enough for Italian tax reporting, no roundings, no possibility to do calculations for pro rata.

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