Where Does the VAT Payment Get Posted After Processing a VAT Return?

After submitting your VAT return, the system will automatically post the payment into your bank account (nominal code 0.0.60.6). The payment amount is calculated based on the input VAT and output VAT figures from the return.

• Viewing the Payment in the Cashbook:

  • The payment will appear in your cashbook for reconciliation.

• Locating the Payment in the Nominal Ledger:

  • To find the payment in the nominal ledger:
    1. Run a Transaction Report on the bank nominal code (0.0.60.6).
    2. Filter the report to locate your VAT quarter payment.