Profit Tax Declaration

Tax setup (AZ)

Tax setup for Azerbaijan Localization consists of two fields under the Reports fast tab.

For the Tax Declaration Profit Name field, you need to select an appropriate Account Schedule set up subject to Profit Tax Declaration articles.
For the Tax Declaration Balance Name field, you need to select an approriate account Schedule set up subject to articles of Appendix 1 to the Profit Tax Declaration.

It is recommended to set up row numbers of the account schedules in accordance with the Declaration article numbers. Descriptions of rows are consistent with the article numbers. Totaling is set up based on appropriate GL accounts created subject to the latest official chart of accounts announced by the Ministry of Finance of the Republic of Azerbaijan.

Account schedule setup

In Business Central, account schedules are the main tool for creating various user-defined financial, tax and managmenet accounting reports. Latest releases provide new capabilities for account schedules that make it easier for people to produce reports in the layout they desire. Account schedule reports arrange accounts from your chart of accounts in ways that make data easier to present. You can set up various layouts to define the information you want to extract from the chart of accounts. Account schedule reports provide a place for calculations that can't be made directly in the chart of accounts.

Create a new account schedule report

The account schedule reports in the standard version of Business Central might not suit your business needs. To quickly create your own reports, start by copying an existing one, as described in step three below. After you create a new report, you can use the Financial Report page to preview and validate your newly defined report. To open the page, choose the Edit Financial Report action. When you open a financial report in View or Edit mode, the Filter pane is available. However, don't use the pane to set filters for the data in your report. The filters can cause errors or might not actually filter the data. Instead, use the filter fields on the Options and Dimensions FastTabs. Choose the Search icon, enter Financial Reports, then choose the related link.

On the Financial Reports page, choose the New action to create a new financial report name.
Alternatively, if you want to reuse settings from an existing financial report, choose the Copy Financial Report action.
Fill the fields in as necessary. In the Column Definition field, select an existing definition, which you can later edit if you want.
Column definitions specify the parameters by which the financial data on the rows is shown. For example, a column definition might contain four columns you can use to compare net change and balance for the same period this year and last year. Learn more in the Edit a column definition section.
Choose the Edit Row Definition action.
Choose the Insert G/L Accounts, Insert CF Accounts, and Insert Cost Types actions to create a row for each financial element you want to analyze. For example, you might have one row for current assets and another row for fixed assets. For a reference, see the financial reports in the CRONUS demonstration company.
On the Financial Reports page, choose the Edit Financial Report action to access the resulting financial report.
On the Financial Report page, in the Column Definition field, select another column definition to explore the financial data by other parameters.
Click OK.

Edit a column definition

Use column definitions to specify the columns to include in the report. A printed/previewed/saved version of a financial report displays a maximum of five columns. In contrast, if a financial report is only meant for analysis on the Financial Report page, you can create as many columns as you want.

On the Financial Reports page, select the relevant financial report, then choose the Edit Column Definition action.
On the Column Definition page, create a row for each column of financial data shown in the financial report. Hover over a field to read a short description.
Click OK.
Open the Financial Report page from time to time to verify that the new column definition works as intended.

The columns you define on each row represent columns three and up on the Financial Report page. The first two columns, Row No. and Description, are fixed.

Set up financial reports with overviews

You can use a financial report to create a statement comparing general ledger figures and budget figures.

Choose the Search icon, enter Financial Reports, then choose the related link.
On the Financial Reports page, select a financial report.
Choose the Edit Row Definition action
On the Row Definition page, in the Name field, select the default financial report name.
Choose the Insert G/L Accounts action.
Select the accounts you want to include in your statement, then choose OK.
The accounts are now inserted into your financial report. If you want, you can also change the column definition.
Choose the Edit Financial Report action.
On the Financial Report page, on the Dimensions FastTab, set the budget filter to the filter name you want to use.
Choose OK.