VAT Liquidation (tfgld1534m000)

This functionality is specific for Italy.

Use this session to view the VAT liquidation amounts.

After you generate a Final version of the VAT liquidation report in the Print VAT Book (tfgld1435m000) session, LN displays the various VAT liquidation amounts. You cannot change the amounts.

Field Information

Financial Company: The financial company for which you generated the VAT liquidation report.
Tax Period: The tax year for which you generated the VAT liquidation report.
Tax Period: The tax period for which you generated the VAT liquidation report.
VAT Payable/Recoverable from previous year: The VAT amount carried over from the previous period.
VAT To Be Liquidated: The amount payable to or claimable from the government.
Collected Deferred VAT: The sum of all bank transactions in the Tax Analysis (tfglf110) table concerning sales invoices and sales credit notes for the selected period, on which value added tax was paid.
Paid Deferred VAT: The sum of all bank transactions in the Tax Analysis (tfglf110) table concerning purchase invoices and purchase credit notes for the selected period, on which value added tax was paid.
Previous Year Credit Used in the Period: The credit amount of the previous year that was used in this period.
VAT Payable/Recoverable: The total VAT To Be Liquidated minus the Collected Deferred VAT plus the Paid Deferred VAT minus the Previous Year Credit Used in the Period amount.