Opening a VAT Period

Do not change the status of a Closed VAT period/quarter to Automatic or Manual if the VAT return has already been submitted. This allows documents to be posted to the VAT period/quarter and may affect the VAT return that has already been submitted.

It is imperative that transactions are not inadvertently posted to future VAT periods/quarters as the related income and expenditure need to be reported to HMRC for the period they relate to. The best way to prevent this from happening is to leave future periods/quarters closed until they are required.

To open a VAT period/quarter:

1. Go to Maintenance, then select Accounts from the menu.
   
2. The List of Ledgers dialog is displayed. Double-select to select the VAT ledger. If your establishment/organisation has separate VAT ledgers for each location, you need to repeat this process for each ledger.
   
3. The Account Maintenance window is displayed. Select the required VAT account/quarter from the left hand panel, then select the Tax tab.
   

4. Select EDIT to enable available fields. Select Automatic from the Status drop-down list.
   

5. Select the Security tab and ensure the Access level is set to 3 and Input Allowed displays Yes.
   

6. Select SAVE to confirm.