Visma Skatt & Bokslut Pro
How should I use VAT reconcilation when VAT is reported quaterly and the VAT period stretches over two financial years?
When you have a broken financial year and report VAT quarterly, it's possible that the financial year could end in the middle of a VAT-period.
In the VAT reconciliation, you can set VAT period to Quarter. If the last quarter is incomplete, the VAT and revenues bookeept up until the end of the financial year will be displayed in both the Bookkept and Reported columns. This way, no deviations will occur.
When the new financial year is started, the amounts from the incomplete VAT period will be transferred to the new financial year and added to the remaining amounts. The Reported column will be editable so that it is possible to add what was really reported to the tax authority.
If it is the first year you are using the VAT reconciliation it is important to import values for the previous financial year. If not, the program does not have any values to collect and you will get deviations between what was reported to the tax authority and what is bookkept.
Read more in VAT reconciliation.
