Click the Create VAT Return button to create the VAT return. Some fields are populated automatically, while other fields must be filled in manually.
Once you have created the VAT return, the return will be assigned the 'Draft' status. You can still delete the return at this stage, if necessary. If you are happy with the return, you can submit it manually or electronically by clicking the Complete VAT Return button. In the case of manual submission, the return will be assigned the 'Final' status; in the case of electronic submission, this is one of the possible statuses that represents the progress of the return. You can no longer delete the tax return at this stage, but if the status is 'Final' (manual) or 'Accepted by Tax Authorities' (electronic), you can still submit an adjustment (correction) by clicking the Create VAT Return button. The status of the return is displayed in the display panel and on the VAT return lines.
To correct the VAT return, open the Create VAT Return form, select the Adjustment check box, and then select the return you want to correct in the VAT return to correct field.
Once the Create VAT Return process has completed, a return code will be created which is displayed on the journal lines.
Select the submission period. If you select 'Month' in the VAT return period selection field, then the To VAT return period field is filled in automatically.
Your choice depends on the frequency with which your business is required to submit its tax returns. If the frequency is less than once a month, for example once every quarter, choose 'Period' and then fill in the period in the From VAT return period and To VAT return period fields. Selecting 'Period' will provide additional information: if a period is closed, you know that there will be no more invoices.
Note: You can select 'Period' only if your fiscal period covers a month, in other words, if you are using 12 fiscal periods per year.
Enter the last month of the submission period. If a VAT return already exists for the period specified, you will see a warning during the execution of the process saying that any journal lines that are already part of a VAT return will be skipped.
Select the Supplement check box if you want to submit a correction to a return. You can only submit corrections to tax returns that have the 'Final' status. You also need to select the VAT return to correct check box.
VAT return period