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The article explains how to configure the Ecuadorian purchase withholding book report so that it can be printed. The withholding book is a record where companies detail the tax withholdings for each invoice transaction that was withheld in its payment, it also includes dividend payments.
Prerequisites
Before you can generate and print the report, the following prerequisites must be met:
- The legal entity's address must be in a country/region that is within the LATAM localization.
- Both the country/region-specific LATAM feature and the general LATAM feature must be enabled.
- You must download the relevant report from the Global repository. Learn more in Download ER configurations from the Global repository of Configuration service.
- You must configure the Electronic reporting (ER) parameters. Learn more in Configure the Electronic reporting (ER) framework.
- You must post vendor invoices for the relevant period. Learn more in Purchase invoice posting for Latin America.
- You must post vendors payments with LATAM withholding taxes. Learn more in Use the LATAM extension in vendor payments journals.
Additional configuration required for Ecuadorian Purchases withholdings book:
- You must create and use a Tax Application code for this report. See Tax application for Latin America article.
- You must configure LATAM withholding taxes and set the Tax application code in those document classes used for withholdings transactions as specified by the regulation. Learn more in Document classes for Latin America.
Configure application-specific parameters
Lookups and conditions are designed so that you can select the combination of document classification IDs and sales tax codes that is used in the transactions. Depending on the country/region that you want to configure the report for, the applicable conditions are shown.
To configure application-specific parameters, follow these steps:
- Open the Electronic Reporting workspace, and select Reporting configurations.
- Select the EC Purchases Withholdings book format, and then, on the Action Pane, on the Configurations tab, in the Application specific parameters group, select Setup.
- On the Lookups FastTab, in the Name column, select Withholdings.
- On the Conditions FastTab, select Add.
- In the Lookup result field, select a value.
- In the Document Classification Id field, select a Document class.
- Repeat steps 5 and 6 to add as many more Lookup result fields as you need.
- On the Lookups FastTab, in the Name column, select VendorApplicableInvoices.
- On the Conditions FastTab, select Add.
- In the Lookup result field, select Yes.
- In the Document Classification Id field, select a value.
- Repeat steps 10 and 11 to add as many more Lookup result fields as you need.
Note
The EC Purchases Withholdings book is a format that depends on the LTM Tax Report model. Therefore, it's important that Withholdings are registered for the transactions. The codes that you select here must match the codes that are registered in the transactions. To ensure that the report shows the transactions that meet the configured conditions, complete the Lookup result field as Not Applicable or No with blank and non-blank conditions.
Run the purchase withholding book report
To generate the purchase withholding book report, follow these steps:
- Go to Tax > Inquiries and reports > LATAM > Tax reporting.
- In the Format mapping field, select Purchases Withholdings book.
- Select OK.
- In the parameters section, complete the Tax application Id field with the code created for this report.
- In the From date and To date fields, enter the date range to include on the report.
- Select OK.