Flagging Tax Periods in a VAT Return
Flagging a tax period in a VAT return means marking the tax period as final and ready for submission.
You can flag a tax period when you export the VAT return to a file format required for electronic tax filing. For information about the required file format for your country’s online VAT submission, refer to the country’s VAT report help topics. See VAT/GST Reports for a list of tax topics per country.
Tax period flagging is available to VAT returns in Austria, Belgium, Czechia, Denmark, Germany, Ireland, and the Philippines only. Furthermore, this feature becomes unavailable if you check the Group box on the VAT form.
When you click the Export to CSV, Export to XML, or Export to DAT button on the generated VAT report, a popup message asks if you want to flag the transactions included in the report. If you click Yes, the tax period on the generated VAT form will be flagged and the reported transactions will be excluded from subsequent VAT returns. The VAT return form for that particular tax period will also be updated with a Final status. This action cannot be undone. If you click No, the file will be exported but the tax period will not be flagged.
You should first close the tax period before you generate, export, and flag it in the VAT return.
Related Topics:
- Formatting Dates and Numbers for VAT Reports
- Viewing VAT Report Transaction Details
- Making Adjustments on a VAT Return
- Viewing the VAT Return Submission History
- Multi-Book Accounting for International Tax Reports
- Generating VAT/GST Reports
- VAT/GST Reports
- International Tax Reports
- Automatic Tax Code Provisioning
- Electronic Tax Filing Using NetSuite
- Setting Up Tax Filing Information
- Creating or Customizing Roles to Use the International Tax Reports
- Sales and Purchase Reports Grouped by Tax Code
- International Tax Reports Best Practices