Who is this guide for?

Accounts Users and Accounts Supervisors

Osprey will allow you to keep track of the quarterly collection of VAT to H M Customs and Revenue using the VAT Journal.

At the end of quarter the amount of VAT due to Customs is payable.

Step 1

Select Banks & Journals

Step 2

Choose VAT JNL, select the relevant Branch and Dept and click Refresh

Step 3

Click Post

The posting type will show as Vat Payment

Step 4

Set the correct Posting Date, type the appropriate Detail, from the drop-down list select the correct bank, the Bank Amount is the amount to be paid to HMRC.

Enter a reference and click Post.

If a refund has been received, this can be posted as a VAT Adjustment.