To access the list of Calculation of VAT Liability documents, go to Accounting > Value Added Tax > Calculations of VAT Liability.
The Calculation of VAT Liability document list
The list includes all the Calculations of VAT Liability documents available in the system. If you don't see a specific document, rearrange the list by date or document number or use the Search field to locate the document by one of its details. You can change the list display settings to suit your particular needs. To learn more about the list display settings, see Working with the item list.
A document of the Calculation of VAT Liability type is used to calculate the VAT amount your company (or particular entity of the company) owes to the Tax Authority or could claim as a refund from the Tax Authority at the end of particular tax period. The calculation is based on transactions of the current tax period and opening balances of the Current Tax Payable and Current Tax Receivable accounts at the start of the period. The document is used to correctly account for the total VAT owed to Tax Authority (or refundable from Tax Authority) on the balance sheet.
The documents of the Calculation of VAT Liability type are listed with their details, which include the following:
- The date of the document (the Date column) and the date on which the calculation was performed (the On Date column).
- Total output VAT amount in the national currency on the specified date in the Balance of VAT Payable (National Curr.) column.
- Total recoverable VAT amount in the national currency on the specified date in the Balance of the VAT Receivable (National Curr.) column.
To create a new Calculation of VAT Liability document, click the Create button on the toolbar.
To edit the existing document, double-click the line with the document number. Alternatively, select the line with the document, right-click it and select Edit or click More actions (in the upper right corner of the form) and then select Edit.
To generate a Payment Receipt or Payment Expense for the document selected in the list, on the toolbar click the Generate button and select the respective option.
If you need to print the selected document, send it by email, or perform other operations, refer to List Toolbar.