Value Added Tax Return

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The Value Added Tax Return screen is accessed by clicking on the VAT Return button button in the [ Accounts | Detail | Tax (VAT) | Tax Register ] screen. For processing a VAT Return see How To: Process a VAT return.

PopVATReturn.jpg


The screen details the information that will be contained in the tax return and that was listed in the grid in the [ Accounts | Detail | Tax (VAT) | Tax Register ] screen.

  • 1 VAT due in this period on sales and other outputs: taken from the Tax Amounts - Tax (D) column.
  • 2 VAT due in this period on acquisitions from other EC Member States: taken from the Tax Amounts - Tax (C) column in the EC Tax Register.
  • 3 Total VAT due (the sum of the boxes 1 and 2): the sum of 1 and 2.
  • 4 VAT reclaimed in this period on purchases and other inputs (includes EC acquisitions): taken from the Tax Amounts Tax (C) column plus the Tax Amounts Tax (C) column in the EC Tax Register.
  • 5 Net VAT to be paid to Customs or reclaimed by you (difference between 3 and 4): the difference between 3 and 4.

  • 6 Total of sales and all other output excluding any VAT. Include your box 8 figure: taken from the Net Amounts (no tax) Net (D) column and the Net Amounts (no tax) Net (D) column in the EC Tax Register and includes any figure in box 8.
  • 7 Total purchases and also all other inputs excluding any VAT. Include your box 9 figure: taken from the Net Amounts (no tax) Net (C) column and the Net Amounts (no tax) Net (C) column in the EC Tax Register and also includes any figure in box 9.

  • 8 Total of all supplies of goods and related services to other EC Member States: taken from the Net Amounts (no tax) Net (D) column in the EC Tax Register.
  • 9 Total of all acquisitions of goods and related services to other EC Member States: taken from the Net Amounts (no tax) Net (C) column in the EC Tax Register.

  • BtnEnableVATBtns.jpg: enables the following two buttons:
    • BtnCommitJournal.jpg: will mark all the transactions that have just been reported on as being committed so that they do not show as valid transactions for future VAT returns and also does two automatic journals; the first one between "Tax on Sales", "Tax on Purchase" & "Tax Paid (VAT Control)"; and the second between "Tax Paid (VAT Control)" & the Bank Control account for the selected bank in the drop-down list.
    • BtnVATCommit.jpg: will mark all the transactions that have just been reported on as being committed so that they do not show as valid transactions for future VAT returns.


See Also

Visit KhaosWikiX at https://support.khaoscontrol.com/wiki_kcx/ to see the following:

Contact the Khaos Team