How to reverse/delete BAS Post & Settlement

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Posted on by CS-23100438-0

Hi All

We've had a new user accidentally "Post & Settle" our Australian BAS

How can I reverse or delete this so we can run it correctly at end of the month?

Thanks

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Dynamics 365 Finance

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AE-23070112-0 11 on at

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How to reverse/delete BAS Post & Settlement

Unfortunately, System doesn't leave us an option to reverse the settlement once it is posted. But we have alternative option to correct these transactions depending on the nature of correction user can choose one of the options.

NOTE: Careful consideration is required when choosing the option.

How to Correct or Reverse:
1. Manual Adjustment in GL Journal:
You can create a general journal entry to reverse the effects of the incorrect settlement.
This involves debiting and crediting the appropriate accounts to negate the original settlement's impact.

2. Using "Latest Changes" Option:
If the tax payment was recently posted, the "latest changes" option in the system might allow you to make adjustments. Among the options available for sales tax payment version purpose of each option is explained as below:

Original – Include sales tax transactions of the first settlement calculation that was posted for the period.

Corrections – Include sales tax transactions of subsequent settlement calculations for the period.

Latest corrections – Include sales tax transactions of the last settlement calculation that was posted for the period.

Total list – Include all sales transactions for the period. These transactions include original and corrected transactions.

Select the appropriate options as required by the business case.

3. Reversing Individual Transactions:
If the issue stems from a specific transaction within the settlement, you can try to reverse that individual transaction if it hasn't been fully settled.
However, this may require careful consideration of its impact on other settled transactions.

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BillurSamdancioglu 19,027 Most Valuable Professional on at

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How to reverse/delete BAS Post & Settlement

As far as I know , you can not reverse a tax settlement. But you can run once again for the differences by to change payment version.

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Martin Dráb 236,124 Most Valuable Professional on at

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How to reverse/delete BAS Post & Settlement

Moved from Integration, Dataverse, and general topics forum to Finance | Project Operations, Human Resources, AX, GP, SL forum, because it looks like a question about F&O.

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