Tax Remittance

After finance confirms a tax liability and arranges payment to the authority, a Firm Admin records the remittance in Versa. The entry identifies the amount paid and the cash account. Versa does not send the payment to the authority.

Before you start

Open the correct entity and go to GL > Other > Tax Remittances. Have the approved tax calculation and payment details ready.

Record the remittance

1. Choose the Reporting period and, when available, the Tax liability account. Select Apply. The All periods (cumulative) option combines periods; choose the period that matches your calculation.
2. Compare the displayed balance and Tax remittance history with the approved tax return or calculation. Resolve differences before posting.
3. Select Remit Tax. Enter the Transaction Date, Tax to Pay, Pay From Cash Account, and Amount. Add a memo if it helps identify the payment.
4. Check the date, account, and amount with the payment owner, then select Post Remittance. The transaction posts using Transaction Date; Reporting period only changes the balance displayed for review.
5. Open the linked transaction in Tax remittance history and retain the external payment confirmation with your tax records.

Correct a mistake

Review reversal of the posted GL transaction with finance. Do not record a second remittance merely to correct the first.

If you don't see what you expect

• Tax Remittances is missing from the GL menu: You need Firm Admin access.
• A tax or cash account list is empty: Check that an eligible account exists before entering the payment.
• Canadian rebate controls are missing: Post Rebate for Tax and Rebate Balance appear only for Canadian firms.