Add VAT Periods Using the Populate Tax Year Wizard

This guidance is only for IRIS Financials Version 7.0.2223 or later. If using version 7.0.2103 or earlier, go to Adding VAT Periods Using the Period Creation Wizard.

CUSTADMIN access only

VAT periods are set up monthly or quarterly as standard, but when required, you can create additional VAT periods, quarters or both. The Populate Tax Year Wizard is only used when creating more than one VAT period. If only creating a single period, add it manually.

  1. Go to Maintenance, then select Accounts.

  2. Select VAT Accounts ledger.
  3. Select ADD NEW, then POPULATE TAX YEAR.
  4. Select the type of periods you want to create, then Next.
  5. Choose the date the year starts, then Next.

  6. If you do not want documents to be posted to the VAT periods immediately, change the Access Level to one higher than 3, and clear selection of Input Allowed.

    This Access Level is used for all VAT periods created by the wizard. If required, it can be changed in future by managing the security for the period.

  7. Select Next.
  8. Review the Confirmation details of the periods being created to check the format is the same as your organisation's existing VAT periods. If any changes are required, select Back and update the settings.
  9. To complete the set up and create the periods, select Finish.
  10. SAVE the details.