Calculate and Post Tax Settlement (report)
The Calculate and Post Tax Settlement report helps with VAT settlement. The report calculates the net amount of VAT that's due or refundable and posts a journal to record the settlement. It streamlines end-of-period VAT processing and helps ensure accurate tax reporting.
Typically, businesses use the report at the end of a monthly or quarterly VAT filing period. The report evaluates posted VAT entries and generates the journal entries for submission.
Use cases
Calculate and post VAT that's payable or refundable at the end of a filing period by generating a journal based on posted entries. This report helps streamline tax settlement and compliance work.
Tip
Tip:
Here are some tips on how to use the report:
- Run the report at the end of each VAT period to automate settlement.
- Review the generated journal before posting to ensure accuracy.
- Use filters to target specific VAT entries or periods.
- Coordinate with finance teams to align on filing schedules and thresholds.
Accountants can use this report to:
- Calculate VAT obligations or refunds at the end of a filing period.
- Post VAT settlements efficiently and accurately.
Controllers can use it to:
- Ensure compliance with tax reporting requirements.
- Monitor VAT trends and filing consistency.
Auditors might reference it to:
- Verify VAT calculations and journal postings.
- Confirm completeness of tax settlement processes.
Try the report
Try the report here: Calc. and Post VAT Settlement
Tip
Tip:
If you hold down the CTRL key while you select the report link, the report opens on a new browser tab. In this way, you can stay on the current page while you explore the report on the other browser tab.
Related information
VAT management overview
Built-in VAT reports in Business Central
Built-in key finance reports
Ad hoc analysis on finance data
Financial analytics overview