Checklist - VAT reports for sole proprietorships

Make sure that all transactions under Cash and bank - Bank transactions this period have been posted to the ledger. Double check that you have not missed any receipts or incoming payments from customers.

At the end of each VAT period you should create a VAT report in Visma eEkonomi Smart by going to Accounting - VAT report and selecting New VAT report.

Read more in the topic Create VAT report.

There is a VAT code linked to all ledger accounts used for sales or purchase related transactions. The VAT code determines which box on the VAT report the VAT will be posted to. When you create the VAT report, Visma eEkonomi Smart checks if the estimated VAT corresponds to the VAT rate for the ledger account you have used. If the numbers do not align, the program will flag that there are deviations.

If you want to see which accounting transactions that are linked to which box on the VAT report, you can select the symbol to the right of the box. Read more about the blocks and boxes in Understanding the VAT report.

Here is an example of what the program checks

You have sold an item for 800 kronor excluding VAT. This item will be taxed at a 25% VAT rate, which would amount to 200 kronor. This means that 800 kronor should be placed in box 05 and 200 kronor in box 10 on the VAT report. If this is not the case, the program will flag that there are deviations.

If the program finds any deviations as a result of the automatic check, you will be notified that there are deviations. When you click on the link in the message a list of all the journal entries that you need to verify opens.

If you have an amount that is too high or low in one of the boxes, you can take a look in the topic Troubleshooting - when something went wrong to get clues as to why this may be.

If you have made a purchase from a foreign country and receive deviations on the invoice, you can check that you have posted your purchases to the right ledger account by reading this forum article Konto vid tjänste- och varuinköp inom och utanför EU.

Read more in the topic VAT report deviations.

When you post your VAT report to the ledger a journal entry showing this month's VAT is created. The amount to be refunded or pay will then be posted to account 2650 - Redovisningskonto för moms. You will also receive a notification with the number of the journal entry that was created.

The amount posted to account 2650 - Redovisningskonto för moms is the amount found in box 49, which shows the difference between the output and input VAT. A positive amount shows the amount that you should pay to Skatteverket and a negative amount is the amount that you will be refunded in your tax account.

Read more about input and output VAT in VAT.

You can submit your VAT report electronically by creating an eSKD file. If you did not click on the link in the notification that showed up in the previous step, you can select Accounting - VAT report. Then select which period you want to report for and choose Actions - Create file. An eSKD file is then created and saved locally on your computer in your downloaded files. Then go to skatteverket.se and upload your file there.

If you are making a payment to Skatteverket you pay via your internet bank. Since you run a sole proprietorship you use your private tax account. This also means that you can choose whether you want to pay the VAT with your private funds or with the company's money.

If you are paying with the company's money

1. Go to Cash and bank.
2. Select New bank transaction.
3. Fill in the transaction date and amount.
4. Select Money out.
5. Choose Add.
6. Select Match on the bank transaction you just added.
7. Specify that the transaction relates to Other withdrawal.
8. Specify outlay type Own selection of ledger account.
9. Then select account 2012 - Avräkning för skatter och avgifter (skattekonto).
10. Select Post to ledger.

If you are paying with private funds

1. Go to Accounting - Journal Entries.
2. Choose New journal entry.
3. Fill in the transaction date and a description.
4. Credit account 2018 - Övriga egna insättningar.
5. Debit account 2012 - Avräkning för skatter och avgifter (skattekonto).
6. Select Post to ledger.

If you are getting a refund from Skatteverket (SKV)

1. Specify that the transaction relates to Deposit.
2. Select the income type Repayment of tax from Tax Agency.
3. Select Post to ledger.

Since you run a sole proprietorship you use your private tax account for VAT payments and refunds. Follow the steps below to post the VAT to your tax account.

1. Go to Accounting - Journal Entries.
2. Choose New journal entry.
3. Fill in the date for when the VAT report should be submitted and write a fitting description.

4. Select Post to ledger.