The tax pooling summary gives you a view of all current tax pooling funds and arrangements in place for the taxpayer.
Accessing the report
To access the balance movements report, navigate to the taxpayer you want to see the report for and then select Reports > Tax pooling summary.
By default, you will see all the tax years that have entries for the taxpayer. Use the drop-down below to select a specific tax year as required.
Reading the report
A new entry will be created within the tax pooling summary in each instance where the given taxpayer has deposited into the pool, tax already purchased or has an active arrangement in place.
Any tax that has been transferred or sold will no longer appear in the summary once it has left the tax pool.
As with all other reports, this can be exported to excel or PDF, to utilise in your own reporting
Status Explanation
Each entry in the tax pooling summary will have a status, which can be used to determine the current position of the funds for the taxpayer:
- Deposit - Own Funds - funds have been deposited by the taxpayer into the pool.
- Purchased - funds have either been purchased based on an invoice or swapped from another tax date.
- TT processing - these funds are currently processing through the system. This could be a payment the client has made which is processing through, or a transfer out to IRD.
- Arranged - these funds are currently part of an active arrangement, but have not yet been paid for by the taxpayer.