Step by step
- Open Accounting > Tax Return. It opens for the current month.
- Set From and To. If you have more than one business, choose it in Business.
- In Return choose the layout: Tax country default, Tax Summary only, UAE VAT 201, Saudi VAT Return, UK VAT100, India GSTR-3B / GSTR-1, EU + EC Sales List or Bangladesh Mushak-9.1. Press Work Out; changing a list works it out at once.
- The top boxes show Output Tax (sales), Input Tax (purchases), Net Tax Payable (or Net Tax Refundable), Sales (exc. tax) and Purchases (exc. tax).
- For a country layout the boxes of that return come next, filled from the period.
- Below are Output Tax by Tax, Input Tax by Tax, Net by Tax Code, Supplies by Tax Treatment, Sales by Buyer, HS / HSN Summary (sales) and Invoices to Registered Buyers (B2B).
- Print opens a print copy in a new tab. Lines (CSV) downloads every taxed line of the period for your accountant.
Good to know
- Figures the software cannot know, such as imports paid at customs or corrections of earlier periods, are 0. Add them on the return yourself.
- Sales returns lower the output tax and purchase returns lower the input tax. Only final sales and completed purchases are counted.
- Give every tax a Tax Code in Tax Setup so that each kind (VAT, SD, GST...) is shown apart in Net by Tax Code.
- "No tax charged" in Supplies by Tax Treatment means standard rated products were sold without tax. Mark them zero rated or exempt in the Tax Category of the product, or check the sale.
- A customer is a registered buyer (B2B) when the Tax Status of the customer is Registered, or, with no Tax Status, when the customer has a Tax Number. Walk-in sales are always B2C.
- For Bangladesh the return is worked out by the VAT (Mushak) app: press Open Mushak-9.1 Return Worksheet.
- Tax Setup at the top opens the tax country and the tax rates.