Close the last VAT period

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Before you start

Before you close the last financial period of a financial year, you must close the last VAT period of the financial year. If your company’s financial year does not start with the calendar year, make sure you only close the VAT periods belonging to this financial year.

The process described below has two parts:

1. In step 1-3 you prepare the VAT report.
2. In step 4-6 you close the VAT period and send the report.

It is possible to complete part 1 first and have another person complete part 2 at another time. In that case, the person who completes part 2 needs to re-enter via the Process VAT report (TX502000) report.

1. Go to Prepare VAT report (TX501000).
2. In the Tax agency field, click to select one.
3. Fill in the Reporting period.
4. Click Prepare VAT report. You are now forwarded to the Process VAT report (TX502000) window.
5. Click Close period.
6. Click Send. Depending on country and settings, you can now send the report electronically.
7. Your tax agency may now ask you for authentication: Enter all required access data and confirm the sending. In some countries you have to upload the now created file and send it directly to the tax authorities.

The report is now sent to the tax authorities. Depending on your settings, you can re-run the report in case you need to add postings later.