In tax settlement …sales tax payment form is there in that sales tax payment version is there…in Sales tax payment version corrrection & latest correction there…please tell me what is difference between correction & latest correction…
Hi,
Can you be more specific on your question. Is is related to VAT settlement? Secondly which country localization are you using?
Pranav…
suppose for the first time you run the tax settlement, you use the version as original. Assume, the settlement is calculated and tax payable is 10000 for a particular period. Assume, the purchase/sales department missed few more invoices which had to be posted in the period where the sales tax settlement is already calculated. They posted it and asked to recalculate the tax settlement which may increase tax payable by 2000. This 2000 is corrections to the original value. So, in this case you should run the tax settlement with the version “corrections” and update check box need to be selected. Selecting the “Latest corrections” will just be used to view the report of latest correctionions and selecting the update check box will give you an error. In the current case, by selecting the latest corrections will just give the report like Original tax - 1000 Latest corrections - 2000
Please work on the same and ensure that explanation and observation are matching.
Please mark the suggested solution as verified to let the users know it has a working solution.
First i run settlement with the version " original ",But Second time when i run the settlement process with the version " Correction " for that particular period and update check box .system will give an error “Cannot settle sales tax with version set to all versions or all corrections”.
so for in which case “Correction” Is using??
Try with version “Latest corrections” and the update check box selected. This one should update the latest taxes in the period.
Next, try version “corrections” with “update” not selected. this should show you what all the corrections happened with your tax settlement you run with “latest corrections”
will be waiting for your reply 
now its working…thanks…
This correction version only for report purpose…So please tell me the meaning also "total list ".[:)]
Total List also for the same reason. So update doesnt work there. you can get the report
I hope you will verify this solution to help our DAXers [:D]
Yes…sure…Thanks @ Santosh…[:)]
This post helped me also .
Hi
i am doing first time settlement but while checking Tax adjustment button or going for the Ok button system is giving the error saying “settlement period does not exist”
I have already created the settlement periods
please suggest.
Tnks.
Please attach the same to the tax code, link the authority vendor to the tax settlement period