Generate new and view existing returns

On the Connected Entities screen you can choose the **Returns** button to:\ \ ✅ Create new returns\ ✅ Edit returns which have not been submitted\ ✅ View previously submitted returns Use the **Returns** button next to the entity to get started.

You may use the **View** button to open an already created VAT return - this table shows additional information on the status of the created returns.

**The following tabs are available in the VAT return:**

Exceptions are transactions that should have been included in previous VAT Reporting periods but where not. These are a few examples of such cases: **Scenario:** *Date: 30 April 20XX* - Accountant/User generates VAT return for the period 1 January 20XX up to 31 March 20XX (being the organisation’s first VAT return). - The report will pull all transactions created from the beginning of time up to 30 April 20XX (i.e. created date). - The data will report transactions created with a transaction date that falls in the period between 1 January up to 31 March 20XX in the VAT return. - Since this is the first time the report is generated, the VAT return will be generated with no exceptions (given that there are no previous reports to refer to). - On 30 April 20XX the accountant/user submits VAT return to the local authorities and immediately marks the VAT return as “submitted” on the generate.TAX portal (this step records a VAT return submission timestamp, which is used in subsequent periods to identify exceptions). *Date: 1 June 20XX* - Accountant/User enters invoice on XERO with transaction date 31 March 20XX. (creation date: 1 June 20XX, transaction date: 31 March 20XX) - Since the report was generated and marked as submitted on 30th April, this transaction was naturally left out from the first VAT return (i.e. 1 January 20XX to 31 March 20XX). *Date: 30 July 20XX* - Accountant/user generates the VAT return for the period 1 April 20XX up to 30 June 20XX (being the organisation’s second VAT report) - generate.TAX will review all transactions created from the beginning of time up to 30 July 20XX. - generate.TAX will report transactions created with a transaction date that falls between 1 April 20XX to 30 June 20XX in the VAT return. - generate.TAX will also report 1 exception in a separate tab (the invoice posted on 1 June 20XX). generate.TAX will NOT automatically adjust the generated VAT return but will inform the user of this exception, following which the user has to approach through one of the following: - Option 1 : Include the exception in this VAT period, by amending the transaction date in Xero and re-generating the VAT return OR - Option 2 : Include the exception in this VAT period by manually adding the exception to the VAT return totals under the respective box(es) OR - Option 3 : Exclude from this VAT return and correct the Xero VAT Control account through a recode/reclassification entry.