Journal Entries and Journal Entry Imports with Tax – Momentus Support Center

You can assign taxes to journal entry lines to calculate taxes and to designate transactions with a tax code so you can include them in spreadsheet tax reporting. This is often used to process taxes on amounts not recorded via the sub ledgers (accounts payable, accounts receivable or cash book). For example, a payroll journal that includes a fee that is taxable. Once you configure taxes, you can use them in journal entries.

Add Journal Entry Lines with Tax

Click the Journal Entries link from the Main Menu. The Journal Entries screen opens.
Click the Add button. The Select General Ledger Source screen opens.
Select the source from the GL Source drop-down.
Click the Continue button. The Add Journal Entry screen opens.
Enter the journal entry header information as needed.
Click the Save (disk) button. The screen updates to the Edit Journal Entry screen.
Insert the journal entry rows as needed.
Select the journal entry line that requires tax.
Right-click and select Taxes. The Add Journal Entry Detail Tax screen opens.
Enter the necessary information:
- Tax Code - Tax for the journal entry line.
- Amount - Tax amount.
- Exclusive/Inclusive - Select Inclusive if the amount is in inclusive of tax or Exclusive to calculate the tax on top of the amount.
Click OK. The additional line is added to the journal entry for the tax amount.

Import Journal Entry Lines with Tax

For information about setting up import files, see GL Posting Imports. Any transactions that you import with a tax type assigned are taken as tax inclusive amounts for the line.

To import journals with tax details, you need to include a line for the tax type in the import file. The data you can import in this field must equal one of the configured tax resources types. These are the same taxes available in step 10 for the Tax Code field in the Add Journal Entry Lines with Tax section.

Add Journal Entry Lines with Tax

Import Journal Entry Lines with Tax

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