To run the “VAT” report, starting from the “Accounts Menu”…
You’ll then see a reminder, as illustrated below, to complete a Period End up to the end of the VAT quarter in question (see “Accounts, Period End”) though a Lock Down will equally suffice (see “Accounts, Period End, Lock Down”). You might prefer a Lock Down because, in contrast to a Period End, it can easily be undone if you subsequently find a problem. The point of both of these is that they prevent changes to your accounting transactions prior to the period end or lock down date, so your staff won’t be able to accidentally change the VAT you owed for a period after you’ve paid it.
You’ll then see a report, like that shown below, that exactly mimics your real life VAT form, onto which you should copy the figures.
You should then…
o You should retain both of these to show the VAT inspectors when they visit
Which type of VAT the report should calculate (i.e. based on invoices, or based on the cashbook), and which quarterly VAT periods it should use are both set-up on the “Tax & Euro” tab of the “Accounts / Set-up” screen (see “Accounts, Set-up, Tax & Euro”), as shown below.
Shortcut - Use Default Journal Templates
Once you’ve worked-out exactly what ought to be done with a journal, to save it as a template for future re-use simply…
Then the next time you’re starting a new journal to do the same thing just click the “Load default” button and pick the one you want, as shown below.
If you subsequently find the description isn’t quite right (e.g. you wish you’d saved “VAT Return” as “VAT Return for quarter” then just edit the text and click “Save Description”, as shown below, in which case the default template will be renamed AND its title passed to the Description field (see above) of all future journals based on it.