VAT claims and liabilities can be posted during automatic posting of invoices received or issued.

Re-post claims and liabilities to accounts 1607 and 2608 at the end of the accounting period. To do this (to set transfer accounts accordingly you should consult your accountant!!), use automatic posting function for transferring transactions to tax accounts (Goods | VAT).

Example: at the end of the accounting period

• issue claim statement for input VAT in the amount of €1,520.18 to account 1600
• issue liability statement for VAT charged in the amount of €3,178.91 to account 2600

After charging VAT at the end of the accounting period, claim statements will be issued for repayment of difference in the amount of €1,658.73.

Balance on claims account 2608 for payment of balance between the VAT charged and input VAT is thus €1,658.73.

Select Posting tab in the VAT Account in the Goods module.

Related topics:

• VAT account