How do I correctly generate the VAT return for a specific period in Zoho Books?
The following things are considered when calculating the date of your first VAT return.
- Generate first VAT return from: This is the date from which your first VAT return will be generated.
- VAT Period Group: This is the group of months on which the end date of your VAT return lies. For example, if your VAT returns are Jan - Mar, Apr - June, July - Sep, and Oct - Dec, You should choose “March, June, September, December”, which denote the end of your VAT return period, as your VAT period group.
- Reporting period: This decides whether the VAT period should be monthly or quarterly.
So, if you select 1st of March as your first VAT return date and selected “March, June, September, December” as your VAT period group, your first VAT return will be from the 1st of March to the 31st of March.
If you wish to have your first VAT return period from, say, the 1st of April to the end of June, you can pick 1st April as your first VAT return date and “March, June, September, December” as your VAT period group.