User manual | 365 IRPF

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Manual de usuario | 365 IRPF

Setting up everything

First, user must do some settings. In the next sections the difference settings to do are explained. User must set up grouping codes, used to group withholdings in different concepts. Also, must set up perception keys, in which user hast to inform the withholding percentage to apply and the purchase and sales account to post the withholding into the accounting.

Last, this perception keys must be assigned to vendors and customers to generate entries into accounting as well as withholding entries when purchase and sales documents will be generated.
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Group Codes set up

1. In the “Tell me what you want to do” search for “PIT Report Group Codes”

MU - 365 IRPF/PIT

2. In the list, click “New” button and create as many groups as you need

MU - 365 IRPF/PIT

3. Fill “Code” and “Description” for every model you want to create. The screen shows an example of groups for Spain

MU - 365 IRPF/PIT

Perception Keys set up

1. Before setting up perception keys user must create two G/L Accounts, one for purchase withholding and one for sales withholding. For this, user must follow next steps:

1.1. In the “Tell me what you want to do” search for “Chart of Accounts”.

1.2. Click “New” button to create a new account

MU - 365 IRPF/PIT

1.3. Create the purchase account as follow

Field Name Value
No. 4751001
Description Public Tax Agency creditor for withholdings
Income/Balance Balance Sheet
Debit/Credit Both
Account Type Posting
Direct Posting TRUE
Gen. Bus. Posting Group NAC
Gen. Prod. Posting Group NO IVA
VAT Bus. Posting Group NAC
VAT Prod. Posting Group NO SUJETO
MU - 365 IRPF/PIT

It is important that the “VAT Bus. Posting Group” and “VAT Prod. Posting Group” combination does not generate VAT entries.

MU - 365 IRPF/PIT

1.4. Create the sales account as follow

Field Name Value
No. 4730001
Description Public Tax Agency withholding and payments on account
Income/Balance Balance Sheet
Debit/Credit Both
Account Type Posting
Direct Posting TRUE
Gen. Bus. Posting Group NAC
Gen. Prod. Posting Group NO IVA
VAT Bus. Posting Group NAC
VAT Prod. Posting Group NO SUJETO
MU - 365 IRPF/PIT

Consider the same aspect as in the previous point, “VAT Bus. Posting Group” and “VAT Prod. Posting Group” combination does not generate VAT entries

2. Once created purchase and sales account, let us create the perception keys. In the “Tell me what you want to do” search for “Perception Keys”.

MU - 365 IRPF/PIT

3. Click “New” button

MU - 365 IRPF/PIT

4. Create a Perception Key as follow

Field Name Value
Code PERC15
Description Perception Key 15%
PIT Percentage 15.00
Report Group Code No. 110
Purchase Account No. 4751001
Sales Account No. 4730001
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Vendors set up

In the vendor card user must configure a perception key.

1. In the “Tell me what you want to do” search for “Vendors”.

MU - 365 IRPF/PIT

2. In the Vendors list, select the one to configure and click on the “No.” field to open the card. It does not matter which one you select but remember it for using it later

MU - 365 IRPF/PIT

3. In the Vendor card, in “Invoicing” tab select a perception key code for the vendor

MU - 365 IRPF/PIT

Customers set up

In the customer card user must configure a perception key.

1. In the “Tell me what you want to do” search for “Customers”.

MU - 365 IRPF/PIT

2. In the Customers list, select the one to configure and click on the “No.” field to open de card. It does not matter which one you select but remember it for using it later

MU - 365 IRPF/PIT

3. In the Customer card, in “Invoicing” tab select a perception key code for the customer

MU - 365 IRPF/PIT

Now, some examples of working with withholdings are shown. User will be guided to create a purchase and sales invoice and check the result (general ledger entries and withholding entries).

Purchase withholding

To create a purchase withholding entry user must follow next steps:

1. In the “Tell me what you want to do” search for “Vendors”.

2. In the Vendor list select the vendor you have set up the perception key for and click “New Document –> Purchase Invoice” to create a new purchase invoice for this vendor

MU - 365 IRPF/PIT

3. A new purchase invoice is created with all needed information in the header. Note the notification informing that the vendor has a perception key defined

4. Fill the “Vendor Invoice No.” field

5. Create a new line with the following information

Field Name Value
Type G/L Account
No. 6000001
Quantity 1
Direct Unit Cost Excl. VAT 1000

6. Click “Release” button.

MU - 365 IRPF/PIT

7. A message appears to inform the user a new withholding line has been added to the invoice and is necessary to refresh the page to calculate totals.

MU - 365 IRPF/PIT

8. Refresh the page to get the correct invoice totals

MU - 365 IRPF/PIT

9. The automatically created withholding line has the following information

Field Name Value
Type G/L Account
No. 4751001, the account for purchase configured in then perception key assigned to the vendor
Quantity -0.15
Direct Unit Cost Excl. VAT 1000
Line Amount Excl. VAT -150

10. User can check the invoice statistics by clicking “Invoice –> Statistics”.

MU - 365 IRPF/PIT

11. In this page user can check detailed information about the invoice.

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12. Close this window and post the invoice. For this click “Posting –> Post”.

MU - 365 IRPF/PIT

13. Confirm de message clicking “Yes”.

MU - 365 IRPF/PIT

14. Once posted, click “Yes” in the next message to open and check de posted invoice

MU - 365 IRPF/PIT

15. On the posted invoice page click ”Invoice –> Find entries” to navigate to the entries related to invoice and check the new PIT entries

MU - 365 IRPF/PIT

16. Click the number in PIT Entry line to check the withholding entry generated during the invoice posting

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17. Check the PIT entry

MU - 365 IRPF/PIT

Sales withholding

To create a sales withholding entry user must follow next steps:

1. In the “Tell me what you want to do” search for “Customers”.

MU - 365 IRPF/PIT

2. In the Customer list select the customer you have set up the perception key for and click “New Document –> Sales Invoice” to create a new sales invoice for this customer

MU - 365 IRPF/PIT

3. A new sales invoice is created with all needed information in the header. Note the notification informing that the customer has a perception key defined

MU - 365 IRPF/PIT

4. Create a new line with the following information

Field Name Value
Type G/L Account
No. 7000001
Quantity 1
Unit Price Excl. VAT 1000

5. Click “Release” button.

MU - 365 IRPF/PIT

6. A message appears to inform the user a new withholding line has been added to the invoice and is necessary to refresh the page to calculate totals

MU - 365 IRPF/PIT

7. Refresh then page to get the correct invoice totals

MU - 365 IRPF/PIT

8. The automatically created withholding line has the following information

Field Name Value
Type G/L Account
No. 4730001, the account for sales configured in then perception key assigned to the customer
Quantity -0.15
Unit Price Excl. VAT 1000
Line Amount Excl. VAT -150

9. User can check the invoice statistics by clicking “Invoice –> Statistics”

MU - 365 IRPF/PIT

10. In this page user can check detailed information about the invoice

MU - 365 IRPF/PIT

11. Close this window and post the invoice. For this click “Posting –> Post”.

MU - 365 IRPF/PIT

12. Confirm de message clicking “Yes”

MU - 365 IRPF/PIT

13. Once posted, click “Yes” in the next message to open and check de posted invoice

MU - 365 IRPF/PIT

14. On the posted invoice page click “Invoice –> Find entries” to navigate to the entries related to invoice and check the new PIT entries

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15. Click the number in PIT Entry line to check the withholding entry generated during the invoice posting.

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16. Check the PIT entry

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3. Closing the cycle

To finish user must settle all this withholding entry and, with this information, prepare the models to present in the local tax agency.

Withholdings payment

Withholding tax payment is the process that generates a withholding tax entry of type settlement and closes the entries that fall within the parameters indicated on the withholding payment screen. To do that user must follow next steps:

1. In the “Tell me what you want to do” search for “PIT Payment”.

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2. Fill in the fields as follow

Options:
Starting Date 01/12/2021
Ending Date 31/12/2021
With this two dates user must cover a period in which all the PIT entries to settle where included
Report Group Code 110
Posting:
Journal Name GENERAL
Batch Name PREDET.
Document No. PIT_SETTLE_202101
Posting Date 31/12/2021
Bank Account AHORROS

The batch name you select must have unmarked the “Copy VAT Setup to Jnl. Lines” field.

MU - 365 IRPF/PIT
MU - 365 IRPF/PIT

3. Once filled the fields user must click “Calculate” button to bring to the lines the pending PIT entries.

MU - 365 IRPF/PIT
MU - 365 IRPF/PIT

4. Click “Post” button and a journal is generated and posted automatically to settle PIT entries.

MU - 365 IRPF/PIT

5. Click “Yes” in the window

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6. To check the settlement, in the “Tell me what you want to do” search for “PIT Entries”

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7. A page with all the PIT entries appear where user can check that the settlement has been done correctly an all the entries are closed.

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8. From here, user may use this data to fill up the corresponding PIT model. Also, can export the information to Excel and manage it from there.