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VT Cash Book

Navigation: Value Added Tax

Creating a VAT return

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To create a VAT return:

1.Click on the VAT button on the main toolbar

2.In the VAT returns window, click on the New VAT return caption at the bottom left. This prompts you for the dates of the return and then displays an unsaved VAT return in a window with tabs listing the entries that make up the return

3.A VAT return includes all entries up to the end date of the return that are not yet in a saved return. If this is not correct, you may need to create and save a dummy return for the previous period first. This scoops up all old entries and prevents them falling into the next return

4.If some transactions are not yet entered, enter them now. The unsaved return will be automatically updated

5.If there are mistakes in a return, you can edit or delete a transaction by right mouse clicking on it in the unsaved return

6.If a transaction with no VAT on it incorrectly appears in the return, right mouse click on it and choose Change Transaction To Outside The Scope Of VAT from the pop-up menu

7.When you are happy with the return, click on the Save button. The balance due on the return will be transferred to the Creditors: Net VAT due account and the entries making up the return will be marked to prevent them falling into the next return. The return will now appear in the list of saved returns in the VAT returns window

8.The VAT return can then be submitted directly from the software to HMRC using the MTD (Making Tax Digital) feature. Please refer to the MTD for VAT section on setting up and using this feature

You can print out the currently selected tab in an unsaved or saved VAT return by clicking on the Print button on the main toolbar.

VT Cash Book does not allow any change to a transaction that would change a total in a saved VAT return.

Please note that a VT Transaction+ licence is required to create a VAT return and submit it to HMRC.