Release a VAT report

Release a VAT report for a specified tax agency and to close corresponding reporting period.

Before you start

If you need to release a VAT report for a closed reporting period, ensure that the Update closed VAT periods check box is selected for the tax agency on the Tax agency settings tab in the Suppliers (AP303000) window.

You need to select an tax agency in the Supplier no. field to make the Tax agency settings tab active.

1. Go to the Process VAT report (TX502000)Process VAT report (TX502000) window.
   
   If you have been navigated to this window automatically, go to step 5.
2. In the Company field, select the required compnay.
   This field is available only if the Multi-branch support check box is selected functionality is enabled in the Enable/disable functionalities (CS100000) window.
3. Optional: In the Branch field, select the required branch.
   This field is available only if the Multi-branch support check box is selected functionality is enabled in the Enable/disable functionalities (CS100000) window. In addition, the File tax by branch must be selected on the Company or else it is hidden.
4. In the Tax agency field, select the tax agency for which the VAT report has been prepared.
5. In the Reporting period field, select the reporting period that the VAT report covers.
6. Click Close period, to release the VAT report and close the reporting period, in the window toolbar, .

With the release of the VAT report, the system closes the corresponding reporting period and generates a purchase invoice that appears on the on the Supplier documents tab.

The purchase invoice contains the total VAT amount that you must pay to the tax agency specified in the VAT report.