Change number of VAT periods

In the accounting settings in Mamut Business Software you can specify how mange VAT periods your company uses. In most cases, you should use the default number of periods that is suggested by the program. Read more about this at www.hmrc.gov.uk (external link) or contact your accountant.

Note! It is important that you check the accounting year and VAT period before entering any accounting data in the program. You can check this by navigating to View - Settings - Accounting and clicking the Periods tab.

You need to know the first and last month of your accounting year, as well as the number of VAT periods and when your first VAT period starts. This information is required for your settings. If you are in doubt, please consult your Accountant.

Note! You cannot change accounting year or VAT periods if you have transferred journal registrations to the nominal ledger.

How to change the number of VAT periods in the program

  1. Go to View - Settings - Accounting.
  2. Ensure that you are in the accounting year that you wish to change the number of VAT periods for, and in the Periods tab and then click on the Edit button in the toolbar.

    Note!
    Here you are able to change the first and last month of the Accounting year, the number of VAT periods, and the first month of your VAT period.
  3. Select the correct number of periods from the drop-down list No. of VAT periods.
  4. Click OK.

You have now changed the number of VAT periods for your company.

Note! If the drop-down list is greyed out, it means that postings have been entered within the accounting year and/or the following accounting year has been created. It is then not possible to change the VAT periods for the chosen accounting year.

Read more about:

About VAT

Getting started with VAT

Closing and reporting VAT periods

 

Version 23.0. The documentation may refer to services and/or functions that are not included within your solution. If you wish to get more information regarding this, please contact Mamut.

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