Opening VAT Balances and Initial VAT Return

If you go-live with Bevica part way through your VAT quarter, you need to do the following to ensure that your trial balance and initial VAT return have your opening VAT values:

1. Post your VAT input and output values to the VAT input and output accounts when importing your trial balance.
2. Input your VAT Statement boxes 1 to 9 amounts from your old system into Bevica so that they feed through to your VAT return boxes 1 to 9 when doing your first VAT return in Bevica.

Opening VAT amounts in the trial balance

When you import your opening trial balance you can turn on direct posting on your VAT input and output accounts and post the VAT amounts to these accounts. Remember to turn off direct posting once you have completed your opening trial balance import.

Once your initial VAT return has been submitted and you have run and posted the Calc. and Post VAT Settlement report, you will still have your opening TB balances in your input and output GL accounts. You will need to post a manual journal to move these balances from your input and output VAT accounts to your VAT payable account.

VAT accounts in Chart of Accounts

There are a number of General Ledger accounts which you can post your opening VAT into so that boxes 1 to 9 of your initial VAT return include figures from your old system:

• ZZ9810: VAT Box 1
• ZZ9820: VAT Box 2
• ZZ9840: VAT Box 4
• ZZ9860: VAT Box 6
• ZZ9870: VAT Box 7
• ZZ9880: VAT Box 8
• ZZ9890: VAT Box 9
• ZZ9895: VAT Box Suspense

Boxes 3 and 5 will be populated automatically, you do not need to post an opening VAT amount for these two VAT boxes.

Post the opening VAT journal

In order for VAT values from your previous system to flow through to your initial VAT return in Bevica, create and post a general journal into accounts ZZ9810 to ZZ9890 for the relevant VAT boxes you have values for. Populate the following fields:

• Posting Date - ensure you post the journal with a Posting Date within the VAT period
• Document Type - leave blank
• Document No.
• Account Type = G/L Account
• Account No.
• Amount - they can all be posted as debit (positive) amounts
• Leave the Balancing Account blank

Once you have populated the journal for the relevant accounts relating to Boxes 1 to 9, enter the balance of the journal against account ZZ9895.

Once the journal has been posted, run the VAT statement and you will see the values come through to Boxes 1 to 9.

The journal posted will create GL entries which will be picked up on the VAT statement. You do not need to post your opening VAT amount as a VAT journal.

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Run the initial VAT return

When you run your first VAT return in Bevica, if you have posted an opening VAT journal, you should see the amounts coming through to boxes 1 to 9 along with values posted since you have gone live.

After the initial VAT return is submitted

Once you have submitted your first VAT return in Bevica and posted the Calculate and Post VAT settlement report, you can:

1. Post another journal into accounts ZZ9810 to ZZ9895, or select to reverse the journal to reduce the balances in these accounts to 0.
2. If you posted your opening trial balance into your VAT input and output accounts, you will need to manually journal these values into your VAT payable account. Remember to add/remove the Direct Posting flag on these accounts.