The VAT report now helps you make sure your accounting is complete before you submit your VAT report. It can also automatically lock and reconcile the period once the VAT report is booked.

You find the functionality under Reports → VAT report.
 

Check your VAT period before submitting

When you select a VAT period, Briox checks it for items that may need attention. Any issues are shown at the top of the report.

Issues that must be resolved

These items block you from creating the VAT report file:

• Unposted customer invoices
• Unposted customer cash invoices
• Unposted supplier invoices

Click an item to go directly to the relevant list, filtered to the unposted items. Once all blockers have been resolved, you can create the VAT report file.

Items worth checking

These are warnings only and don't prevent you from submitting the VAT report:

• Accruals not carried out
• Depreciations not carried out
• Unprocessed bank transactions
• Differences between a VAT account balance and the VAT report amount

Click a warning to go directly to the relevant area and review the items.

Links are only available if you have access rights to the relevant area.
 

Create and book the VAT report

Click Create VAT report file.

If there are unresolved blockers, Briox tells you what needs to be posted before you can continue.

When the period is ready, you can create the VAT report file or submit online. Briox then transfers the supporting document to your accounting.
 

Automatically Close the VAT period

Close period when the VAT journal is created is enabled by default.

When enabled, Briox automatically closes the period up to and including the last day of the VAT period when the VAT report is booked. This helps prevent reported figures from being changed accidentally.

The closing only moves forward, never backward. Reporting an earlier period will not reopen a period that has already been closed further ahead.
 

Automatically reconcile VAT transactions

Automatically reconcile the VAT transactions is also enabled by default.

When the VAT report is booked, Briox automatically reconciles the VAT transactions included in the report and transfers the resulting net VAT amount to the VAT settlement/control account.

Any VAT payable or receivable then remains open on the settlement/control account until it is settled with the tax authority. Once the payment or refund clears the balance, the transactions can be reconciled as usual.

If a VAT account has an unexpected remaining balance, Briox still books the VAT report but alerts you to review the deviation in Account reconciliation. The deviation does not block the VAT report and does not affect bank reconciliation.
 

Summary

• The readiness check helps you identify incomplete accounting before submitting your VAT report.
• Blockers must be resolved; warnings are for information and review.
• Period closing and automatic VAT reconciliation can be switched off using the settings on the VAT report page.
• The automatic period close never moves backwards.