Accountants and financial officers everywhere need to know how much tax has been received from customers and how much has been paid out to vendors. Paragon handles this requirement with two simple reports. Here we will learn where to find these reports and how to read them.
There are two ways to access reports in Paragon:
From most screens in Paragon, you can hit the reports button at the top left side of the screen:
or you can access reports from the more button:
Learn more about Paragon reports functionality.
Step 2: Find the sales tax reports
Once you have the reports menu open, you can either hit the report name on the left hand side of the screen or you can select the required report from the finance card:
Sales tax collected report
This report simply lists all tax amounts received into your accounts by month or by quarter, or how often you pay out to the government. The amounts are listed by tax type as well.
Sales tax paid report
This report lists all tax amounts paid out by month, quarter, or as you need it. The amounts are also listed by tax type.
Both reports include the standard filters and options as other reports such as data range selection, filtering by account or currency, etc. Learn more about Paragon reports!
Now that you can access information about taxes paid and/or received, you can figure out which customers still owe you and which vendors are still owed and who to contact to make payment arrangements. Accounting decisions are made so much easier when the required information is at your fingertips.
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