ANTE User Manual

VAT Return

The VAT Return shows how much VAT you collected on sales, how much you paid on purchases, and the difference you owe or carry forward. It is a summary in the style of the BIR 2550Q return, worked out from your ledger for the period you choose. You reach it at Treasury → Configuration → VAT Return.

Choosing the Period

  1. Enter the dates
    Period Fromdate
    First day of the return period.
    Period Todate
    Last day of the return period.
  2. Apply

    Click Apply to load the figures for that range.

Reading the Return

Output VAT (Sales)amount
The net credit to your output VAT account for the period: the VAT you charged on sales. The account code is shown under the figure.
Input VAT (Purchases)amount
The net debit to your input VAT account: the VAT you paid on purchases that you can claim back.
Net VAT Payableamount
Output VAT minus Input VAT, shown in red. When input VAT is larger the label changes to Input VAT Carryover and the amount shows in green: nothing is payable and the excess carries forward.
Tip

Example: output VAT 120,000.00 less input VAT 85,000.00 gives Net VAT Payable of 35,000.00. If output were 60,000.00 and input 85,000.00, the page shows an Input VAT Carryover of 25,000.00.

Only posted journals count

The figures come from the general ledger, so VAT on an invoice or purchase appears only once its journal is posted.

When Nothing Shows

If the page says "No VAT configuration", the Sales and Purchase tax codes do not exist yet. Apply a tax template with a VAT code on Tax Configuration, then return here.

How It Connects

Set up first

  • Tax Configuration — the Sales and Purchase tax codes decide which accounts count as output and input VAT.

Gets its data from

  • Sales Invoice — output VAT charged on invoices posts to the output VAT account.
  • Purchase Order — input VAT on purchases posts to the input VAT account.
  • Journal Vouchers — the posted vouchers that carry the VAT lines this return adds up.

Feeds into

  • Trial Balance — the VAT accounts shown here can be reconciled against their trial balance totals.
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Tax Configuration
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Withholding Tax