Farm IT Help - VAT Reports

VAT 100 Report (VAT Return)

The VAT 100 Reports is designed to allow you to easily complete your VAT 100 Form (VAT Return) for a selected period. To create a new VAT return select the ‘New VAT Return’ option from the ‘Bank’ menu.

 

When the form opens the system will initially check if you have any unclaimed (uncommitted) VAT Transactions in the system who's effective VAT Date is before the period start date. You will then be prompted to select any of these transactions in the current VAT report. You may also select the transactions and clear then so they now longer get displayed. Normally you will not have any such transactions however if you receive a bill late it may have a date relating to a previous VAT period, If you already claimed the period we need to carry forward the unclaimed VAT into the next return.

 

 

When you complete your VAT return you need to ‘Commit’ the VAT transactions. This records the Transactions with the VAT return reference (simply the dates of the return) and ensures that transaction are only included in a VAT return once, and that any unclaimed transactions entered after the VAT return has been committed are carried forward to the next VAT return if the date is before the start date of the selected period.

 

You may see exactly what transactions make up the calculated amounts by 'clicking' the 'I..' Buttons

 

 

Once the VAT Return has been commited you have a record of exactly how each VAT return looked when you completed the VAT return form.

 

You may list historical VAT returns by selecting the ‘List VAT Returns’ option from the ‘Bank’ Menu.

You may double click on any entry to open the VAT return.

You may then delete the VAT 100 Record by ‘clicking ‘ the ‘DELETE VAT RETURN’ button. The VAT 100 record will be deleted and all transactions reset to unclaimed.

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