If the business Period End is also a VAT Period End, and the Sales and Purchase Ledgers have been closed, then the option Advance VAT period must be run. This option advances the VAT into the next period. and also clears the log and summary files for the current period.
Before proceeding with the VAT period end option, print the VAT current period log and the current period summary report. Also ensure that the accounts modules are in stand-alone mode.
The transactions in the log file should support the VAT end of period summary. The end of period summary should agree with the VAT control accounts in the Nominal Ledger.
To Advance the VAT Period:
From the Autoline master menu select the Nominal Ledger option and the company you require.
Select the VAT options option.
Select the Advance VAT period option.
The Nominal Ledger - VAT End of Period form is displayed.
This option advances the VAT period.
The VAT log and the VAT summary for the current month will be printed and then deleted. The VAT period is advanced and the VAT summary is rebuilt. A Summary of VAT inputs/outputs for the current period is given.
BUTTONS
OK: A form is displayed detailing the current VAT period and the new VAT period together with a summary of operations which the system will carry out. On the form you may now click the Advance-VAT-period button if verification was successful. The VAT totals will be rebuilt and the VAT period will be advanced. Check that this is so by selecting the Display current period from the Nominal Ledger Main menu.
Cancel: Returns you to the NL VAT MENU.
Help: Displays help on the current application in your default company browser.
