VAT Return

At the end of each quarter you will need to produce a VAT return for HMRC. The VAT return shows:

• VAT due on sales
• VAT due on EC acquisitions
• Total VAT Due
• VAT reclaimed on purchases
• Net VAT to pay
• Total sales ex. VAT
• Total purchase ex. VAT
• Total EC sales ex. VAT
• Total EC purchases ex. VAT

Using the financialAccounts module you can produce a VAT return by selecting the View -> VAT return option. Select the start and end dates for the period and click RUN: