Where it usually breaks
And how to keep it from happening.
- A refund is issued without evidence of the overpayment.
- A posted demand is edited in place instead of reversed.
- A correction lands in a closed period.
- Tax Collection System
- Process
- Refund, adjustment and reversal
Refund, adjustment and reversal
Issue refunds and abatements as credits, correct posted demands with approved compensating journals.
Step by step
-
Prepare the credit or adjustment Assessment Officer
Assessment Officer raises a credit document for a refund or abatement, or an adjustment for a correction, with lines and evidence.
- Credit or adjustment Draft
- Updates Accounting documents, Document lines
-
Review it Assessment Reviewer
Assessment Reviewer approves, returns or rejects the submitted version.
- Document Approved or Rejected
- Updates Review decisions, Accounting documents
ApprovalA person approves before the work moves on. -
Post it Assessment Officer
Assessment Officer posts the approved document into the open period as a balanced journal.
- Document Posted
- Updates Journal entries, Journal lines
-
Correct a posted demand Assessment Officer
For an error in a posted demand, Assessment Officer requests the correction with a reason. Unposted draft scope is cancelled; posted scope is corrected by a compensating journal in an open period.
- Correction prepared
- Updates Accounting documents, Journal entries, Cash applications
-
Approve the compensation Assessment Reviewer
Assessment Reviewer approves the compensating journal before it posts, and the original document and journal are marked Reversed.
- Original Reversed, compensation Posted
- Updates Review decisions, Journal entries
ApprovalA person approves before the work moves on.
Who does what
Roles and permissions- Assessment Officer
- , Assessment Reviewer, Revenue Accountant.
Set up Tax Collection System your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.