Generating Returns
Learn how to create VAT returns from your data in bVAT. This guide covers generating regular and flat rate returns, understanding return data, and preparing returns for submission.
Introduction
Generating VAT returns in bVAT is a streamlined process that automatically calculates your VAT liability based on your Input and Output VAT entries. The system supports two types of returns:
Key Features:
- Automatically calculates from your VAT entries
- Includes all RET-005 line items
- Supports standard and reduced VAT rates
- Handles food and non-food categories
- Calculates net VAT payable or credit
When to use: Use for standard VAT reporting when you have detailed Input and Output VAT entries
Key Features:
- Based on total turnover for the period
- Uses a flat rate percentage
- Simplified calculation method
- Fewer line items to complete
- Faster preparation for eligible businesses
When to use: Use if your business is eligible for flat rate VAT scheme and you prefer simplified reporting
Step-by-Step Instructions
1Navigate to VAT Returns
- From the main dashboard, click on "Returns" in the navigation menu
- Select "Regular Returns" for standard VAT returns
- Or select "Flat Rate Returns" if using the flat rate scheme
- You'll see a list of available filing periods
2Select a Filing Period
- Choose the period you want to generate a return for
- Periods are displayed in YYYY-MM format (e.g., 2024-01 for January 2024)
- Available periods depend on your business reporting frequency (Monthly, Quarterly, Annual)
- The system shows period start date, end date, and due date
- Locked periods (already submitted) are marked with a lock icon
3Review Period Summary
- The system automatically loads VAT data for the selected period
- Review the period summary showing:
- • Total Input VAT entries and amounts
- • Total Output VAT entries and amounts
- • Net VAT calculation
- • Vendor summaries (for Input VAT)
- • Entry counts and date ranges
- Verify that all expected entries are included
4Fill in RET-005 Form
- The RET-005 form is automatically populated from your VAT entries
- Review and adjust line items as needed:
- • L1-L10: Output VAT (Sales/Supplies)
- • L11-L26: Input VAT (Purchases/Imports)
- • L27-L31: VAT Liability Calculation
- You can add manual entries for items not captured in regular VAT entries
- The form validates calculations and highlights any discrepancies
5Add Manual Entries (If Needed)
- Click "Add Manual Entry" if you need to include transactions not in your VAT entries
- Enter the transaction details manually
- Manual entries are included in the return calculations
- You can edit or remove manual entries before finalizing
6Preview the Return
- Click "Preview Return" to see a formatted view of your VAT return
- Review all line items and calculations
- Check that totals match your expectations
- Verify business information is correct
- The preview shows the return as it will appear when submitted
7Finalize the Return
- Once you're satisfied with the return, click "Finalize"
- Finalizing locks the period and prevents further changes to VAT entries
- You can still view and export the finalized return
- After finalizing, you can proceed to submit the return manually through the tax authority portal
- Note: bVAT does not submit directly to tax authorities - you must submit manually using the official portal
Important Notes
Ensure all VAT entries for the period are entered before generating the return. Missing entries will affect the accuracy of your return.
Once a return is finalized and submitted, the period is locked. You cannot add, edit, or delete VAT entries for locked periods.
The system validates your return data and highlights any errors or discrepancies. Review validation messages before finalizing.
Make sure your business information is up to date in Settings > Business, as it appears on the VAT return.
Tips & Best Practices
- Complete all VAT entries for the period before generating the return
- Review your entries for accuracy and completeness
- Ensure business information is current and correct
- Check that VAT rates are applied correctly to entries
- Verify date ranges match your reporting period
- Review the period summary carefully before proceeding
- Check that entry counts match your expectations
- Verify totals align with your records
- Use the preview function to review the complete return
- Add manual entries for any missing transactions
- Export a copy of the return for your records
- Review the finalized return one more time before submission
- Keep a backup of all supporting documents
- Note the submission deadline and plan accordingly
- Contact support if you notice any discrepancies
Common Issues & Troubleshooting
The return shows incorrect totals
Check that all VAT entries for the period are included. Verify entry dates fall within the period range. Review manual entries if any were added.
I can't see the period I need
Periods are generated based on your business reporting frequency and VAT registration date. Contact support if you need a period that's not showing.
The period is locked and I need to make changes
Locked periods cannot be modified. If you need to make corrections, you may need to file an amended return. Contact support for assistance.
Manual entries aren't showing in calculations
Make sure manual entries are saved before finalizing. Check that entry amounts and dates are correct. Refresh the page if entries don't appear.
Validation errors prevent finalizing
Review the validation messages carefully. Common issues include missing required fields, calculation discrepancies, or date range errors. Fix all errors before finalizing.
- Review the return carefully using the preview function
- Export a copy for your records before finalizing
- Finalize the return when you're ready to lock the period
- Proceed to manual submission through the tax authority portal after finalizing
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