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Complete the VAT Return - Republic of Ireland only

Created on  | Last modified on 

Summary

This guide explains how to complete your Republic of Ireland (ROI) VAT Return in Sage 50cloud Accounts.

Description

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This includes:

  • Transferring the values from the sales and purchase tax control accounts into your VAT liability.
  • Submitting your VAT Return to the Revenue.
  • Recording the payment or receipt, depending on whether you owe the Revenue or are due a refund from the Revenue.

Resolution

VAT transfer

Complete the VAT transfer area as follows:

  1. Date - Enter the date for the VAT Transfer.
  2. Sales Tax Amount - This is the amount from Box 1 on the VAT Return.
  3. Purchase Tax Amount - This is the amount from Box 4 minus the amount from Box 2 on the VAT Return.
  4. Click Post Journal.

Submit to the Revenue Commissioners

  1. To locate the XML file on your computer click Open Folder.
  2. Upload the XML file to ROS. If you need assistance with doing this, please contact the ROS Technical Helpdesk.
  3. Once you've submitted the file, select the Mark as submitted check box.

Record payment

  • Once complete, you can click Post Bank Payment or Post Bank Receipt.
  • If you've already recorded the payment or receipt in the bank click the Mark as paid check box.

That's it, you've completed your VAT Return and can click Close.