Preparing a VAT account
The VAT account is prepared based on the invoices issued and received within a given period. The difference between the VAT charged and the VAT for which the taxable person can claim a deduction is paid.
The flow chart below shows the structure of the VAT account workflow.
Below is an example of how to prepare a VAT account using a workflow in PANTHEON.
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HINT
For more information on what a workflow is, see the chapter Workflow.
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CASE SUMMARY
Ashley Accountant, Head of Finance and Accounting at Tecta, wants to prepare a VAT return for April 2022. She will prepare it using a PANTHEON workflow. This is done as follows:
- Transferring the workflow from the server
- Running the workflow
- Overview of packing slips not invoiced
- Invoices issued report
- VAT account
- Summary reports
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1. Transferring the workflow from the server
First, the person responsible needs to transfer the VAT account workflow to PANTHEON.
This is done in the menu Settings | Documentation | Workflow design.
2. Running the workflow
Once the workflow has been transferred, the person responsible can search for it in the window Workflow design.
This is done in the toolbar using the navigation buttons, where the workflow Obračun DDV1 (VAT Account) is selected.
The workflow structure shown in the image below opens.
The person responsible starts the process by clicking the button 
(Run workflow).
A pop-up window with the following question appears: Do you want to run workflow "Obračun DDV1"?
The workflow start is confirmed by clicking the button .
PANTHEON guides the person responsible through the workflow steps.
3. Overview of packing slips not invoiced
After starting the process, the window Summary Reports showing the tab Movement overview opens automatically.
In this window, the person responsible defines the report criteria and reviews the packing slips not invoiced.
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HINT
The yellow banner under the menu indicates that the person responsible is being guided by the workflow.
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The mandatory fields are marked with a red vertical line.
The person responsible selects all documents by right-clicking in the section Report type and selecting the option Select all.
As shown in the image below, the person responsible selects the date in the field Date from, in this case 1.4, while setting the Date to to 30.4.2022.
This determines the range of the report containing collective documents for the month for which the VAT account is to be prepared.
The person responsible selects the report type 047 - Movements - detailed and clicks on the button Report.
If documents appear on the report that have not yet been invoiced, the person responsible can pass this information to the relevant person.
In the yellow banner under the menu, the person responsible clicks the button Rejected.
This opens the window Packing slips not invoicedwhere you can send an email to the person responsible for invoicing delivery notes and add to-do. In the empty field below, he/she writes a message as shown in the figure below.
After the button Continue has been clicked, the program takes the person responsible to the next workflow step.
4. Invoices issued report
In the next workflow step, the window Invoices issued/profit margin report opens.
The person then reviews the invoices that were issued, but have not yet been confirmed.
On the right side of the window, all Document types are again selected by using the right-click in the section and selecting the option Select all.
The person responsible specifies the date range for the creation of documents in the field Packing slip from/to. In this case, the date range from 1.4.2022 to 30.4.2022 is selected.
Then, the person responsible selects the report type 164 – Invoices issued report - detailed.
If invoices that have not yet been confirmed appear in the report, the person responsible repeats the process of sending an email to the relevant person to edit or confirm the documents in question.
After this has been done, the person responsible clicks the button Continue to proceed to the next workflow step.
5. VAT account
This workflow step opens the window Invoice ledger where the tax records can be checked and corresponding reports can be created.
In the section Document types on the right, the person responsible selects all document by right-clicking in the section and selecting the option Select all.
In the field Date from/to, the period for which the tax records are to be checked is specified, as shown in the image below.
The reports 2J1 - Invoices Issued and 2J7 - Invoices received are then created
In the tab VAT account, the VAT account calculation for the specified period is carried out.
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HINT
To create VAT account lines for a specific period, see the chapter General journal.
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The person responsible selects the appropriate account for the specified period.
The VAT account calculation is started by clicking the button VAT account.
If the below warning "Criteria must be specified." appears, the person responsible must go back to the tab Invoice ledger and check that all the criteria (Document type, Date, etc.) have been defined.
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WARNING
If any errors occur in the VAT account calculation, the program will automatically open the tab Errors.
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If the person responsible has selected all the criteria and the VAT account calculation is done, the information below is displayed: "VAT account successfully finished!"
To complete this workflow step, the button Confirm is clicked.
6. Summary reports
The next workflow step opens the window Summary reports.
By clicking the tab Summary reports, the person responsible opens a window where summary reports can be created to verify the data obtained.
The person responsible enters the period, in this case from 1 April to 30 April 2022, into the fields Posting per. date from/to.
If any errors occur or something is not right, the person responsible can click the button Rejected to send an email to the relevant person, asking them to review the unposted documents.
If there are no errors, the person responsible clicks the button Confirm in the final step to complete the VAT account workflow.