R004051 - Monthly VAT Report

In Italy, businesses are required to print monthly reports to document accounts payable and accounts receivable VAT. The report must be printed on a form following the guidelines of art. 27 of the DPR 26 ottobre 1972 n.633.

You use the processing options on the Monthly VAT Report to create both an Accounts Payable and an Accounts Receivable version of the report. You should run both reports monthly.

You also need to indicate which rate from the Intra-Community VAT tax rate/area is included on the report. On the Accounts Payable version, include the positive tax rate. On the Accounts Receivable version, include the negative tax rate.

Also, you can define the value in the Report By Country processing option to process tax rate/area by country for the selected transactions.

To number the pages of the report progressively by calendar year, specify the year and number for the first page in the processing options. The pages are numbered on the report by using the year and beginning with the number that you specify. For example, if you print two 1000-page reports during the year 2005, the pages should be numbered as:

• First report of 1000 pages - First page number 2005/1, last page number 2005/1000.

• Second report of 1000 pages - First page number 2005/1001, last page number 2005/2000.

In this example, you would specify a year of 05 and a first page number of 1 when you print the first report, and a year of 05 and a first page number of 1001 when you print the second report.

To run the report for suspended VAT, use data selection to select only documents with the document type for suspended VAT. The Monthly VAT Report sequentially numbers vouchers with suspended VAT and totals them separately from the other vouchers with regular VAT.