At the end of each tax reporting period, you must close or refund the VAT received during the period. VAT processing results in a set of lines that are entered into the purchase book. These lines include purchase factures, goods returns, corrected factures, and factures to settle customer prepayments.

1. Click Accounts payable> Periodic> Purchase book> Incoming VAT processingto open the Purchase book (Incoming VAT processing)form.

2. Click Selectto open the Incoming VAT processing-select data for periodform.

3. In the From dateand To datefields, specify the VAT processing period.

4. In the Oper. No.field, select the VAT processing operation code.

   Note
   If the By defaultcheck box is selected for the selected operation code in the Parameters of VAT processform, then the ledger account for prepayment or refund of VAT vouchers is already specified by the tax code posting profile. If you clear the By defaultcheck box, then select the ledger account from the Ledger accountfield in the Parameters of VAT processform.

5. Click OK. A facture list is created in the Purchase book (Incoming VAT processing)form in accordance with the selection criteria.

   Note
   Factures are displayed in the upper section of the form, and information about the facture lines is displayed in the lower section.

6. In the upper section of the Purchase book (Incoming VAT processing)form, select the Markedcheck box to select the factures for processing.

7. Click Mark> Mark allto select all factures for processing.

   –or–

   Click Mark> Unmark allto clear all lines in the form.

8. Click Deleteto delete all transactions.

9. Click Postto create accounting transactions for refunding or closing VAT.