When adding income and expenses in Billit, by entering the correct information, you can prepare various VAT returns at the end of the period. You can even submit a VAT return directly from Billit through the integration with the government portal Intervat. Finally, you can pay any VAT due using a QR code or a payment file.
On the VAT Returns – VAT Declaration screen, you can see on the right an overview of current and historical VAT returns and check whether all required information has been entered.
At the top, any warnings will indicate missing data for the current VAT return, such as category or percentages for VAT deductibility or professional use.
At the top left, you can see the VAT balance for the selected period. For open periods, this balance will be updated as invoices are processed in Billit. You can always click on the amounts in specific VAT tables to get more details on the invoices linked to those tables.
Once the period is over, you can prepare a VAT return by clicking Submit VAT return. Make sure that all required documents have been correctly processed in Billit and that the VAT current account balance has been filled in correctly.
Next, an overview of the VAT tables will appear for review. You can also manually fill in tables 61 (Correction – additional VAT to pay) and 62 (VAT due on received credit notes).
After confirming the VAT tables, any warnings will appear. If needed, enter the required justifications (optional) and confirm.
Finally, if you have installed the Intervat integration, you can submit the VAT return directly via Intervat. If you have not installed the integration, you can also download the VAT return in XML format for manual submission.
