VAT returns

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 postings made. Once the return has been created, the return will automatically be assigned the 'Draft' status and a VAT return code. Use the Complete VAT return option to submit the return either electronically or manually. The display panel shows information such as the status of the return. For electronic returns, you will see detailed information about its progress in the status flow on the VAT return lines.

List of invoices

The journal allows you to see the invoices the VAT return is based on, and to check whether all entries made during the period have been included in the return.