Opening a VAT Account

It is essential that users do not post to future VAT periods because income and expenditure needs to be reported to HMRC for the period they relate to. If future periods are left locked, they cannot be accidentally posted to. It is therefore recommended that you only open the next VAT period when required.

To open a VAT period:

1. Select Masters > Accounts from the menu bar.
   
2. From the List of Ledgers dialog, highlight the VAT ledger then click the Select button.

   This process will need to be repeated for MATs who have separate VAT ledgers for each location.

3. The Account Maintenance dialog is displayed. Highlight the applicable VAT Account e.g., 202021M01 then select the Tax tab.
   
   
4. Select the Open check box then click the Apply button.
   
5. It may be necessary to select the General tab and set the access level to 3 and select the Input Allowed check box.