Prepare the VAT return from the controlled accounting record.

Prepare the return

1. Open the correct VAT period in VAT Return Centre.
2. Refresh/prepare the return from the current accounting source.
3. Review source lines and any exceptions.
4. Check the VAT control and return totals.
5. Resolve errors in the source transaction or settlement rather than typing over the VAT return total.

Cash VAT

For Cash VAT, invoice VAT is released according to settlement/allocation. Partial settlements release only the corresponding VAT proportion. An unallocated bank line should not be treated as evidence that an invoice is fully paid.

Transactions dated in a submitted VAT period

A VAT return lock protects the submitted return, not the whole accounting period. If a legitimate transaction is entered later with a date inside the submitted VAT period, Balansix can keep the accounting entry in its correct date while excluding it from the locked return and carrying the VAT forward to the next open period. The late treatment should remain visible for review.

VAT lock vs accounts lock

VAT return lock: protects the submitted return while allowing later accounting entries to be handled in the next open VAT return. Accounts/period lock: protects the accounting period itself and can block entries into the locked period. These controls solve different problems.

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