Once the sales tax and purchase tax data for creating the form have been imported successfully,
To view an example of how to access PEAK Tax, click here.
To view an example of how to Fetch P.P.30 Form, click here.
The process of creating Form P.P.30 - normal filing (Within due) can be done by following steps:
Step 1: Go to the VAT menu > 'P.P.30 Form' > 'Create P.P.30'.
Step 2: Provide the following information:
Tax Period: Specify the tax period for which you want to create the form.
Filing Type: Specify the 'Normal' type.
More Filing Type: Specify 'Within due 'type.
Number: The PEAK program will automatically generate the form number, which cannot be edited or configured.
Once you have provided the information, click the Next button.
Step 3: Selecting Sales Tax Item
The PEAK program will automatically retrieve the sales tax invoices. You can click 'Next'.
If there are any incorrect sales tax entries or changes in the document data, a pop-up will appear with a notification. If you accept the data as correct, you can type 'confirm' for the confirmation and click 'Confirm'.
If you don't want to include any sales tax item in the form, you can click the 3-dot button for that item and select 'Remove'.
Step 4: Selecting Purchase Tax
The PEAK program will automatically retrieve the purchase tax invoices. You can click 'Next'.
If there are any incorrect purchase tax entries or changes in the document data, a pop-up will appear with a notification. If you accept the data as correct, you can type 'confirm' for the confirmation and click 'Confirm'.
If you want to include a purchase tax item from a different month, click the '+ Add New' button to add an item.
Specify the desired time range for the purchase tax invoices and click the 'Search' button.
Once the search is complete, check the box next to the document number of the purchase tax invoice you want to include and click 'Confirm'.
If you don't want to include any purchase tax item in the form, you can click the 3-dot button for that item and select 'Remove'.
In case the purchase tax amount exceeds the sales tax amount,
A pop-up will appear to choose whether to use the excess tax as a credit, refund, or record it as an expense. Select the desired option and click 'Confirm' to proceed to the summary information of Form P.P.30.
In case the sales tax amount exceeds the purchase tax amount,
The PEAK program will load the summary information of Form P.P.30.
In cases where there is carried forward credit from the previous month, you can click to specify the numbers and click 'Approve' to proceed with Form P.P.30.
Once the approval button is clicked, the Item Information will be displayed again.
Step 5: Filing Information
After completing the form filing, click the 'You can file the form here.' button.
The filing Information status will change to "Filed."
Step 6: Payment Status of P.P.30
After completing the payment transaction, click the 'Click here to mark as paid' button.
The tax payment status will change to "Paid."
Step 7: Record Information
Click the 'Record Closing Tax' button to close the tax.
A pop-up will appear to specify the date for the recording.
Enter the desired date and click 'OKay'.
The PEAK program will automatically generate the journal entries for closing and adjusting the sales and purchase taxes.
Example of accounting entry in case the sales tax amount exceeds the purchase tax amount.
Step 8: Recording Tax Payment in the Accounts
Click the 'Record Payment' button.
Specify the date of payment and the payment method.
Once you have entered the information, click the 'Confirm' button.
The PEAK program will automatically generate the expense document.
Note: In case there are fees associated with the payment or if there is an overpayment/underpayment, you can change the payment method from basic to advance.
You can click to view the expense document.
Click to view the accounting entry information in the account entry field.
Example of the accounting entry.
You can watch a video tutorial on how to Create P.P.30: normal filing (Within due) on PEAK TAX (PT003) at the PEAK Account link.
- End of Create P.P.30: normal filing (Within due) on PEAK TAX (PT003) -