The re-post settings shown here use predefined values and may be different in at your business! Consult with your accountant before attempting to post!
	For VAT posting, the program will used the posting template with the ID VAT and of the type D - VAT.

Account settings from transfer are used to define how the reposting of tax
receivables and payables will be performed at the end of the tax period. Let's
take a look how reposting is done using predefined tax accounts:

1. Payables accounts 2600 and 2605 and receivables accounts 1600 and 1606,
   which will be used in the formula and will be balanced following the posting.
   The balance of these accounts will be shown in accounts 2607 and 1607.


2. 
   The determined difference to be paid or refund (the difference between
   accounts 2607 and 1607) will appear in account 2608 or 1608, which is why,
   in the next step (once the calculation has been performed) accounts 2607 and
   1607 will not have a balance.


 

Analytic accounts from 2600 to 2605 are used to show payables for accounted
VAT from various types of taxable transactions of goods or services (except
26012). Account 2607 is a breakdown where the total value of payables for
accounted VAT is shown. At the end of each tax period these analytical accounts
are closed, that is, the balance of these accounts is transferred:

• from individual payables accounts for VAT (2600 to 2605) to account 2607;


• 
  from individual receivables accounts for VAT (1600 to 1605) to account 1607.


 

Below, the predefined template for posting these transfers is shown (for a
detailed description, see Posting Templates). You
can view templates for posting VAT by clicking the Settings
button (for more information, see VAT Posting).

A step-by-step commentary on creating a journal entry for posting VAT:

Line	Notes
10	= Add (summarize) the credit balance of accounts used to monitor payables for VAT calculated in issued invoices. Note that Instead of adding up the amounts in individual accounts, you can refer to a group of a accounts in the formula (#SP2600%#, for example). For transparency's sake, we've used a different formula in this example. Also, instead of the credit balance of the account, we could have used the credit transactions (#SK2600%#, for example). We've opted to use the credit balance so that we could use positive amounts. In the journal entry line shown here, we've only defined a debit post and required that the debit post be made to the same account and in the same amount as those used in the formula.
15	= the sum of the credit balance of accounts from line 10 is posted to the account payable for VAT accounted for the tax period. With a post defined in this manner, only one total amount for the accounted VAT will be posted to the credit side. But there's anohter way to do it. In line 10, we could have specified that the calculated values are to be posted to the credit side of account 2607. In this case, EACH debit post would have a contra entry to the credit side of account 2607. That formula would look like this: In this case, line 15 would of course no longer be needed!
20	= Add (summarize) the debit balance of accounts used to monitor receivables for input VAT calculated in received invoices. In terms of the formula, the same thing that we noted with line 10 is valid here as well.
25	= the sum of the credit balance of accounts from line 20 is posted to the debit side of the account receivable for input VAT for the tax period. With a post defined in this manner, only one total amount for the input VAT will be posted to the debit side. As to whether this line is necessary or not, the same thing that we noticed for line 15 is also valid here.
30	Closing account 2607 If the total value of accounted VAT (the amount that appears in line 10) is greater than the amount of paid VAT (the amount that appears in line 20), the value of accounted VAT (from line 10) will be posted to the debit side of account 2607 and to the credit side of account 2608 - Amount for VAT payment at the end of the tax period. If this condition is not met, the posting will not be performed. In this case, the condition from line 60 will be met.
40	Closing account 1607 If the total value of accounted VAT (the amount that appears in line 10) is greater than the amount of paid VAT (the amount that appears in line 20), the value of paid VAT (from line 20) will be posted to the debit side of account 2608 and to the credit side of account 1607 (where the balance of paid VAT has already been posted to the debit side). If this condition is not met, the posting will not be performed. In this case, the condition from line 50 will be met.
50	Closing account 1607 If the total value of accounted VAT (the amount that appears in line 10) is greater than the amount of paid VAT (the amount that appears in line 20), the value of paid VAT (from line 20) will be posted to the debit side of account 1608 (Short-term receivables for refund of difference between input VAT and accounted VAT for tax period) and to the credit side of account 1607 (where the balance of paid VAT has already been posted to the debit side). If this condition is not met, the posting will not be performed. In this case, the condition from line 40 will be met.
60	Closing account 2607 If the total value of accounted VAT (the amount that appears in line 10) is greater than the amount of paid VAT (the amount that appears in line 20), the value of accounted VAT (from line 10) will be posted to the debit side of account 2607 and to the credit side of account 1608 (Amount for VAT payment at the end of the tax period). If this condition is not met, the posting will not be performed. In this case, the condition from line 30 will be met.