This reports shows sales tax collected and paid, based on the accounts linked to the Sales Tax Codes. This report is based on accounts. Some PST paid transactions are not posted to the PST Paid liability account and as a result, those transactions will not be displayed on this report.

This report displays a list of linked tax collected/paid accounts during a specified period. If there are any inconsistencies (for example, inappropriate transactions allocated to tax linked accounts) an 'Out of Balance' figure will be displayed. This report only displays figures for the current financial year, taking as the opening balance of tax code linked accounts their closing balances from the previous financial year (which it assumes have been paid or received). If you want to create a Tax Information Reconciliation report from a previous financial year, do this from a back up copy of your previous financial year's company file.

If transactions are posted directly to the accounts, this report may show an out of balance amount. Customers looking for a report to settle tax liabilities with the authorities should use the GST and PST Return report.