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Closing the VAT Period

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Written by Lassi kähkönen
Updated over a week ago

Opening and Closing the VAT Period

Open the VAT period by selecting Accounting → Accounting Periods.

Check the task list for the following missing items:

  • Unrecorded transactions

  • Unposted purchase invoices

  • Open payroll runs

  • Unapproved purchase invoices

  • Uninvoiced sales invoices

Post the bank statement transactions for the VAT period.

Review the reports for the VAT period.

Close the VAT period and add the VAT payment slip to the purchase ledger.
You may also prepare the VAT return and VAT payment slip manually based on the VAT calculation.


Reopening a Closed Period

If the fiscal year has not yet been closed, a closed VAT period can be reopened.
After reopening, the period must be closed again.


Submitting VAT Declarations to the Incomes Register

See the Incomes Register instructions [here].
Once you have authorized the Incomes Register, your company’s VAT declarations will be sent directly to the tax authority through the Eemel.com service, provided that you are using Eemel’s accounting feature.

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