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Your company is required to submit value added tax (VAT) returns on a regular basis. The frequency of your tax returns depends on a number of factors, including the size of your organization. Check with your tax authorities how often you need to file a tax return.
To fill in your VAT return, use the Create VAT Return process. This process will retrieve the relevant data from your accounting records, and compile the VAT return based on the entries made. Once the return has been created, the return will automatically be assigned the 'Draft' status and a VAT return code.
List of invoices
Open the journal to see which invoices are included in the VAT return. To display the invoices, filter them on the assigned VAT return code. For more information about the VAT return, add the VAT, VAT Description, VAT Return Category, VAT Return Code and VAT Basic Amount columns to the Journal form. To display the invoices, filter them on the assigned VAT return code, as well as on the VAT return category, if desired. You can also display list totals or group totals to see how the VAT basic amount and the VAT amount have been calculated. Click the Journal Entry button to display the entire journal entry for every journal line.
Perform VAT checks before you create the VAT return:
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