Making Tax Digital [MTD] - How to Process Your VAT
The order of submitting your VAT Return are as follows (NOTE: For more detailed instructions and information please see the attached manual)
Print the VAT Analysis (and check the figures balance against the Balance Sheet VAT Accounts)
- Click Nominal
- Click Reports
- Click on V.A.T A/C Processing
- Click on Print VAT Analysis
This will ask if you want to Export to CSV if you say yes it will save in Peak\CSVFiles if you say No it will bring your Printer Selection list up
Generate your VAT Return
- Click Nominal
- Click Reports
- Click on V.A.T A/C Processing
- Click on Generate VAT Return
Save and or print, check the correct dates and figures are showing on the report
Submit your VAT Return
- Click Nominal
- Click Reports
- Click on V.A.T A/C Processing
- Click on Submit VAT Return
- This will open 2 spreadsheets, on the VAT Submission one, don't click anywhere on the screen other than the 'Submit' button at the end of the top line next to the values (these values may be incorrect at this point but please just click Submit)
- You will see the Absolute Return and can check that correct dates and figures appear, if so Click Submit VAT Return at the bottom of that page
- Check figures again on the next pop up window and Tick to Confirm
- Click Submit VAT Return on the above mentioned pop up screen. This will then open the Absolute Web Page and say VAT Submission Successful
- Print and or Save the VAT Submission Receipt
Post VAT Transfer
NOTE: this needs to be done BEFORE nominal Month End is completed( this moves the values from the VAT on Sales and Purchase accounts to the VAT Liability/Payment account)
- Click Nominal
- Click Reports
- Click on V.A.T A/C Processing
- Click on Post VAT Transfer, this will look like a manual journal but will automatically populate the accounts and values for you
- Continue through and post this and print your Journal
Update Your VAT Return Status
- Click Nominal
- Click Reports
- Click on V.A.T A/C Processing
- Click on Update VAT Return Status (do this until it says 'Accepted' at the top of the screen) NOTE: if it does not say Accepted it will not allow you to do the Nominal Month End
Paying Your VAT
- Click Nominal
- Click Reports
- Click on V.A.T A/C Processing
- Click on Post VAT Payment
- Like the transfer this will automatically bring the values through for you, you can post this payment after the quarter nominal month end is done as long as the transfer is done before month end
Motorline Accounts-VAT Processing - Revised.pdf
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