To correctly complete the VAT return, the primary settings that will be pulled
into the VAT return / VAT supporting documents must be configured.
Basic requirements for the VAT return:
1. menu Company – Settings
Company tab – fill in the VAT ID field,
Details tab – fill in the Tax Office field (from the code list, into which the relevant VAT payment account will be added), Authorized Person; note: if
the tax return is submitted by a representative, also enter the details relating to them,
Legislation tab – check the VAT Payer flag.
2. menu Business Partners - Company Addresses – enter a value in the Name field in the record header, and on the Basic Information tab enter values in the VAT ID, Country fields, and if
you are a VAT payer, check the VAT Payer flag,
3. menu Tools – Code Lists – VAT Rates (updated programmatically when changed),
4. menu Tools – Code Lists – VAT Return Lines (also predefined programmatically),
5. menu Tools – Code Lists – VAT Control Statement Lines (also predefined programmatically),
6. menu Tools – Code Lists – Posting Rules – Basic Information tab – fill in the Account Settings section (for VAT) and the VAT Fulfillment Code field.
Settings that facilitate the population of VAT lines and control statement lines within created documents:
1. in the menu Sales - Issued Invoice Types / Purchases – Received Invoice Types / Money – Cash Document Types / Accounting – Internal Document Types / Accounting – Other Receivable Types / Accounting – Other Liability Types
on the Posting tab, it is possible to fill in the VAT Control Statement Line
and VAT Country fields; this value stored in the document types will be pre-filled when creating individual documents,
2. due to the VAT Control Statement lines, it is advisable to create multiple document types that correspond to the individual lines of the control statement,
3. the Tax Supply Date field on issued invoices, cash (and optionally bank documents), other receivables and internal documents – the value in the Tax Supply Date field is pre-filled based on the date set
in the Issued field (can be changed),
4. the Tax Supply Date field on received invoices and other liabilities – the values in the Tax Supply Date and Apply Tax Supply Date fields are pre-filled based on the date set in the Received field (can be changed); the date from the Apply Tax Supply Date field is transferred to the VAT supporting documents,
5. the values in the VAT Country, VAT Lines and Control Statement Line fields on the document line item can be changed as needed compared to how they are predefined in the given document type,
6. the values in the VAT Country, VAT Lines and Control Statement Line fields specified on the Line Item on the Posting/Details tab take precedence over the values specified
on the Posting and VAT Line tab in these fields in the document header.
Where to find VAT outputs:
In the menu Accounting – Accounting Outputs:
VAT Supporting Documents,
VAT Return,
VAT Recapitulative Statement,
VAT Control Statement.
Before creating the actual returns, all accounting outputs can be reviewed
in the generated VAT supporting documents. It is also possible to edit the source documents directly from the VAT supporting documents.
All VAT outputs are submitted electronically. You also have the option to print a paper copy of the VAT return and VAT control statement for review purposes.
An Amended Return can be created for both the VAT Return and the VAT Control Statement.