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Glossary of terms used in sales tax cash, collections and distributions reports

Glossary of terms 
Cash Actual payments made to localities.
Promptax EFT Payments made by Promptax vendors for the current month's liability period (days 1-22 of the current month).
Collections Collections = Cash - Current month's Promptax EFT + Previous month's Promptax EFT (it puts the money in the proper liability period).
Assessments Payments made for Sales Tax billing.
Late-filed Returns Returns filed in the non-peak months with money. Non-peak months are January, February, April, May, July, August, October and November.
Rate Adjustments Adjustments for tax rate increases or decreases.
Prior Period Adjustments Adjustments made to past returns. It may include amended returns and refunds.