Using Method 1 (without Allocations).
An additional report is displayed on the VAT Menu 鈥撀燰AT on Cash Receipts.聽 This report is similar to the VAT3 report but the Sales are taken from the VAT Analysis in the Cash Receipts Book rather than Sales Invoices. 聽The report is formatted to make it as easy as possible to fill out your VAT form, i.e. the totals to be entered in boxes T1, T2 etc. of the VAT3 form are separately identified.
Using Method 2 (with Allocations).
VAT on Receipts are only included in a VAT submission when they have been allocated to a Sales transaction. 聽Therefore all cash receipts should be allocated before making a submission.
When a return is submitted, all Receipts included in that return are flagged with the 鈥楻eturn Code鈥� assigned to the VAT submission and those transactions cannot be changed.
To produce this report at the top menu select聽VAT / VAT on Cash Receipts.
Select A Report Panel.
Sales Details and Summary reports can be printed to show what transactions have been or will be included in a VAT Return.
The VAT3 Summary Report is formatted to make it as easy as possible to fill out on your VAT form, i.e. the totals to be entered in Box T1, Box T2 etc. of the VAT3 form are separately identified. 聽The report also includes a table of purchases and sales information formatted so as to assist in the preparation of your Annual Return of Trading Details.
Period Panel.
Select the period of the report.
Please Note:
While transactions after 鈥楾o鈥� period will not be included in a preview report, all unsubmitted allocations up to that period will be included in preview reports. 聽For this reason care must be taken when making a first submission to ensure that old transactions which may already have been included in a VAT Return are excluded. 聽This may involve making an initial 鈥榝ake鈥� submission to pick up these transactions.
Action Panel.
Preview A New Return.
When this option is selected the Reports will include all unsubmitted transactions up to the 鈥楾o鈥� period selected.
Submit A Return.
Select this option with聽VAT3 Summary Report聽and enter a聽Return Code. 聽When you then click on聽Print聽you will be given the following warning:
If you are happy that the transactions are correct you can click on聽Yes.
Review An Existing Return.
Select the Return Code for the submission to be reviewed and the Periods for that return.
Print the reports to be reviewed.
Undoing a Cash Accounting VAT Return.
If you wish to cancel a submission there is an option to聽Reverse VAT on Cash Receipts VAT Return聽in聽Utilities Menu. 聽This option should used with caution.
