Preparing for a VAT return with Making Tax Digital(v7+)
Ensuring location information is up-to-date
As the VAT return is submitted electronically, it is important that data for each location within an establishment/organisation is up-to-date.
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Select Maintenance, then select Accounts from the menu.
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The Select a ledger dialog displays. Select ENTITY - Entities.
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The Account Maintenance window displays. Select the required location from the left-hand panel , then select the Address tab.
Check the location's address details have been entered and the VAT number is shown in Tax number. If the location address details need to be updated or if the VAT number needs to be entered, select EDIT, enter the required details, then select SAVE.
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Reconcile the VAT Account with the VAT 100 Report
Before proceeding with the VAT return process, make sure the VAT account or quarter is set to Manual to stop any new postings from other users whilst the process is carried out.
- select Maintenance, then select Accounts from the menu.
- The Select a ledger dialog displays. Double-select to select VAT - VAT Ledger.
- The Account Maintenance window displays. Select the required VAT period from the left-hand panel, select the Tax tab, and check the Status of Manual is selected for the VAT period. If you need to update the status for the period, select EDIT, select Manual from the Status drop-down list, then select SAVE.
The VAT 100 report shows the transactions that make up the VAT return. This report should be checked to make sure that the values match the VAT return so that it can be filed as evidence of what was claimed for a particular month or quarter.
Before running the report or using the VAT Returns MTD Making Tax Digital (if used), make sure any manual adjustments are posted so that they are included in the electronic submission.