VAT Register - Accounting and banking

The register your VAT return is filed from. It has one line per bill, with the other party's name and PAN, the taxable and exempt values, the VAT, and the month it is reported in.

When to use it

Most lines are written for you when a purchase or sales document is posted, so you rarely come here to add one. You use this screen when a line has to exist without a document behind it, such as an adjustment or an opening balance carried in from your old records. You also use it when a line that was already written needs correcting before the return is filed.

Before you start

The other party should be on your vendor and customer list, and you need their PAN as printed on the bill.
Know which month of the return the bill belongs to.
You need create rights on this screen. Because the return is filed from it, give access only to the people who file.

Where to find it

Entry > Statutory Entry > VAT REGISTER.

The fields on this screen

Field (on screen)	What to enter	Required
MITI	Date of the bill for the VAT register, in BS. It decides which maskebari month this entry falls in.	No
PP.NO	Pragyapan Patra (customs declaration) number. Fill it only for an import.	No
BILL.NO	The bill number printed on the other party's invoice, as it must appear in the VAT register.	No
File	Attach a scan or photo of the bill, so the register line can be checked against the document.	No
EXEMPT AMOUNT	Part of the bill that carries no VAT, such as exempt goods. Leave it 0 when everything is taxable.	No
TAXABLE	Value the VAT is charged on, before VAT is added.	No
VAT	VAT on the taxable value, usually 13 percent.	No
Year	BS year of the VAT return this bill belongs to.	No
MONTH	BS month whose VAT return this bill is reported in. It must agree with the miti above.	No
VENDOR	The other party on this bill. The name and PAN beside it are typed separately and are not filled in.	No
VENDOR ANME	Name of the other party as printed on the bill.	No
PAN	PAN of the other party, exactly as printed on the bill. The VAT return is filed on these numbers.	No
SN	Serial number this bill carries in your VAT register.	No
REMARKS	Optional note for this VAT register line.	No
T TYPE	How this bill is classified in the VAT return, such as Taxable Purchase Local or Taxable Sales Local.	No
Company	Which of your own units this bill is filed under. The VAT return is totalled separately for each.	No

How it works

Saving adds or corrects a line in the register. This screen makes no accounting entry: it changes what you report, not what your books say. That is what makes it powerful, and why you should be careful with it.

The month and year you set decide which return the line falls into. The transaction type decides which box of the return it is counted in: a local taxable purchase, an import, a local taxable sale, an export, a return, a credit or debit adjustment, and so on. The VAT Maskebari Summary, the Sales Register, the VAT Payment Register and the adjustments report are all totalled from these lines.

Because the books and the register are kept separately, they can disagree. The reconciliation screens compare the two and show you which bills are in one but not the other. Run that check before you file.

Tips and common mistakes

The party's name and PAN are typed here. Choosing the party above does not fill them in, and the return is filed on what is typed.
The month is not worked out from the Miti. Set it yourself and check that the two agree, or the bill is reported in the wrong month.
The Company list is drawn from your cost centres. Pick the unit whose return this bill belongs to, because the return is totalled separately for each.
Fill in the customs declaration number only on an import.
Correcting a line that a posted document wrote will make the register disagree with the books. Fix the document where you can, and use this screen only when there is no document to fix.

Purchase Invoice, Sales Invoice, Purchase Return, Sales Return, VAT Maskebari Summary, Sales Register (VAT), VAT Payment Register.