Tax
Tax Periods
Define and manage tax reporting periods for your organization.
Tax periods define the time ranges used for tax calculations and filing. Navigate to Tax > Periods to manage them.
Creating Tax Periods
Set up periods that match your tax filing schedule:
- Monthly — Common for VAT/GST returns
- Bi-monthly — Two-month filing pairs (e.g. SA VAT Category A: Jan–Feb, Mar–Apr). Choosing Bi-monthly pre-fills the current Category A pair; adjust dates for Category B (Feb–Mar, …) or another range.
- Quarterly — Used for estimated tax payments and BAS
- Annually — For annual tax returns
Period type is a filing-frequency label. Filing and the ZA VAT report use the start and end dates you set.
Period Status
Each period has a status:
| Status | Description |
|---|---|
| Open | Current period, transactions are being recorded |
| Closed | Period is finalized, ready for filing |
| Filed | Tax return has been submitted |
Closing a Period
When you close a tax period:
- All transactions within the period are locked
- Tax calculations are finalized
- The period becomes available for generating tax returns
Best Practices
- Close periods promptly after the reporting date to prevent accidental modifications
- Review the tax summary report before closing
- Keep records of filed returns for your records