Answer
Nov 04, 2016 - 11:51 PM
There are two options for Canadian law firms to post taxes so that Legal Tracker can recognize and categorize the tax for reporting purposes. 1.) You can post the tax as an expense line item. The VAT amount must be entered as an expense line item (i.e. EXP/FEE/INV_ADJ_TYPE identifier should be E). In the field for the expense code (LINE_ITEM_EXPENSE_CODE), enter the code E124 (note: this is the UTBMS Expense Code for "Other"). The line item narrative must include the phrase "Value Added Tax" or "VAT". And the narrative should also include the specific Tax Type as well, (HST, GST, PST, or QST) 2.) You can use the LEDESBI format which will include the tax at the line item level in the LINE_ITEM_TAX_TYPE field (using HST, GST, PST, or QST). If your firm's time and billing software is not capable of generating the LEDESBI format, you can use the LEDES Generator. For more information regarding the way law firms should reflect taxes, please refer to the attached link: https://trackerhelp.serengetilaw.com/TrackHelp_LF/Content/0734Hlp/lfAdm/lfGen/l
f_4525-Vat.htm?Highlight=tax
f_4525-Vat.htm?Highlight=tax
