Closing VAT Periods

You should only close a VAT period when the VAT return has been completed and the VAT period has a zero balance. Alternatively, if a future VAT period has been opened in error, you should close it to prevent documents being accidentally posted to it.

  1. Go to Maintenance, then select Accounts from the menu.
  2. Double select to select the VAT ledger from the Select a ledger dialog.
  3. The Account Maintenance - VAT window is displayed. To see if any transactions have been posted to a period, select the applicable period in the left-hand panel, then select LINKS.
  4. From the right-hand panel, select Details.

  5. If any transactions have been incorrectly posted to this VAT period, refer to Moving VAT Transactions to Another VAT Period.

    If there are no transactions in the VAT period or corrections have been made to move the documents to another VAT period, select the Tax tab, then select EDIT.

  6. Applicable fields then become editable. From the Status drop-down list, select Closed.
  7. Select SAVE.
  8. An Update complete message is displayed. Select OK to close the message and return to the previous window.