Checking and Reconciling your VAT in Business Central and Dynamics NAV
We know that the flexible VAT setup in Business Central (& Dynamic NAV) is excellent once it is set up and users get familiar with it. However, it can be a complex and daunting set up for those that are not familiar with it. As such, the flexibility can lead to a lack of confidence in the figures suggested by the VAT Statement Report.
The following video (shown in Dynamics 365 Business Central, Wave 1 2020) explains how to gain confidence over those figures and check them back to the Calc & Post VAT Settlement Report as well as the General Ledger Account.
The video goes through:
- Adding a G/L Check within your VAT Statement
- Running the Calc & Post VAT Settlement Routine (post = off)
- Check for post-dated VAT Entries
Note: that this is not a training video on how to setup VAT and VAT Statements in Business Central, but a guide to those with familiarity with its use.