About VAT report preparation

In Visma Net, you can prepare a VAT report for a particular tax agency.
A VAT report can be prepared either for an open reporting period, or for a closed reporting period if the Update closed reporting periods check box is selected for a tax agency on the Tax agency settings tab of the Suppliers (AP303000) window.
The frequency of preparing VAT reports depends on the setting that you specify for a tax agency in the Reporting period type field in the Suppliers (AP303000) window.

If your company contains multiple branches, you prepare a VAT report for each particular branch.
Once you have prepared VAT reports for all your branches, you can release a VAT report for each required branch and close corresponding reporting period.

The sections below describe the processes of creating VAT reports for open reporting periods and for closed reporting periods.

To prepare a VAT report for an open reporting period, in the Prepare VAT report (TX501000) window, you should select the required branch (if any), the tax agency and an open reporting period.

All previous reporting periods should be closed.

The VAT report structure that was previously configured for the selected tax agency appears with the numeric values (VAT amounts and taxable amounts) in its lines.
The system has recorded these values to the VAT report “on the fly” each time a user has entered any taxable document into the system.

To process VAT report preparation, you need to click Prepare VAT report in the window toolbar. Visma Net checks to be sure that all the VAT report entities were configured correctly, and if no errors have occurred, prepares the VAT report and opens the Process VAT report (TX502000) window.

You can prepare another revision of the VAT report for a closed reporting period, for which a VAT report has already been prepared (or multiple reports have been prepared).
This functionality is available for tax agencies for which the Update closed reporting periods check box is selected on the Tax agency settings tab of the Suppliers (AP303000) window.

To prepare a VAT report for a closed reporting period, in the Prepare VAT report (TX501000) window, select the required branch (if any), the tax agency, and the required closed reporting period.
If new transactions were posted in the selected period, the Prepare VAT report button becomes available in the window toolbar.
When you click this button, the VAT report will be prepared and the Process VAT report (TX502000) window will open, in which you can release the VAT report.

When you have prepared a VAT report for a closed reporting period, the revision number of this VAT report changes (it is incremented by 1) in the Revision ID field in the Process VAT report (TX502000) window.
You can view each particular revision of the VAT report by selecting the required revision number in this field:

  • If you clear the Show differences check box next to the Revision field, the VAT report shows the amounts (VAT and taxable) taken from the documents posted since the beginning of the VAT reporting period (since the initial VAT report revision) till the selected revision of the VAT report.
  • If you select the Show difference check box, the VAT report shows the amounts taken from the documents posted between the selected revision and the previous revision of the VAT report.

You can prepare as many revisions of the VAT report for the same (closed) reporting period as needed (for example, you can do it each time any documents are posted to the closed VAT period).