VAT Processing

If you are registered for VAT you must calculate your Output VAT and Input VAT for your sales and purchases and send a VAT Return to HMRC. This application provides VAT processing based on invoices and credit notes posted rather than the cash accounting method. If you trade with customers or suppliers in the EC, you may need to submit reports to HMRC that detail these transactions.

Available forms in this section:

Form	Description
VAT Codes	This form is used to create the VAT codes you need when you post VAT transactions. VAT codes are set up to update the relevant boxes on the VAT Return, update the EC Sales List (ESL) and Supplementary Declaration (SD) reports, and update the Reverse Charge Sales List (RCSL).
VAT Return Adjustments	This form is used to make VAT Return adjustments without updating the Sales, Purchase or Nominal Ledgers. The adjustment will create a new VAT Return transaction, and can also be seen on the VAT Reports.
VAT Return & RC Sales List	This form is used to print your VAT Return and commit your data to a VAT period in readiness to submit to HMRC, and print the Reverse Charge Sales List (RCSL) for a selected period. You can also reprint an earlier VAT Return and RCSL.
VAT Online	This form displays the values for each box on the VAT 100 form, calculated by Opera 3 from the sales and supply transactions posted in the application. You can amend the calculated values if required. This creates a file that is used by Online Filing Manager to submit the VAT Return to HMRC.
Tidy VAT Data	This form is used to permanently remove VAT codes that have been marked for deletion, and remove fully committed VAT transactions that have been included on the VAT Return for the tax period. If relevant, ESL and SD reports records are also removed.