How to receive the VAT refund?
Problem - How to receive the VAT refund?
Solution description - In order to receive the VAT refund, the following steps must be taken:
Generate a trial balance to see the VAT amounts to be paid and refunded.
Go to the document Calculation of VAT Liability.
Fill it out. The amounts will match.
After you complete the document, you will recognize the tax.
The trial balance will show the total VAT recoverable.
Generate a tax refund document based on the document Calculation of VAT Liability.
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In the next period, the calculation will show that there is no VAT to be reimbursed, but there was in the previous period.
If you do not reimburse VAT in this period, the calculation of the next period will show that there is an amount to be reimbursed for the previous period.
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