Prepare your quarterly VAT return (2550Q)

For VAT-registered businesses only. The monthly 2550M is no longer required since 2023. The 2550Q is due on the 25th day after the quarter ends.

Where: Reports › VAT Returns (2550Q).

Read the worksheet

1. Choose the year. Each quarter shows Output VAT, Input VAT, input VAT carried in from the last quarter, and VAT payable.
2. Open a quarter to see the full worksheet:
   • Sales: VATable sales (net of credit notes), zero-rated sales and exempt sales
   • Purchases: with input VAT, and without VAT
   • Input VAT applied, VAT payable, and unused input VAT carried to next quarter
3. Use Print for your records or for your accountant.

Record the filed return

After you've filed in eBIRForms or eFPS and paid:

1. Open the quarter and fill in Record the filed return and payment: Date filed / paid, Paid from (bank account) and the Reference (eFPS, eBIRForms or bank).
2. Click Record return.

GodoERP posts Dr VAT Payable, Cr Input VAT, Cr Bank, clearing both VAT accounts for the quarter. The figures are frozen as recorded, so later changes to that quarter don't silently change a filed return.

Tip: Record quarters in order. Each quarter's unused input VAT carries into the next.

Important: If you have to amend a return, use Void this return, correct your books, then record it again.