VAT annual vote

The VAT year-end reconciliation in AbaNinja is used to perform a final review and correction of VAT after all four VAT quarters of a fiscal year have been completed. All sales and input tax recorded during the year are reviewed again. If there are any subsequent entries (e.g. late invoices or corrections) made after the last VAT return is submitted, these must be declared in the year-end reconciliation, often also referred to as the "5th quarter". The year-end reconciliation ensures that all VAT-relevant entries are correctly recorded and reported to the Federal Tax Administration (ESTV).

Benefits

• All VAT returns for the year are complete and correct.
• Subsequent changes or corrections are properly accounted for and reported.
• The year-end reconciliation serves as the basis for the final VAT return to the ESTV and helps avoid discrepancies.
• You receive an overview of the sales and input tax reported for the year, including any discrepancies that need to be balanced out in the year-end reconciliation.

Tips and hints

• The VAT year-end reconciliation can be found in Accounting > VAT > VAT year-end reconciliation.
• While the VAT quarters are still open, all amounts appear in the "Total according to sales and difference" row. After the final closing of a quarter, the amounts are displayed in the corresponding figures (e.g. 200-405) for the affected quarter.
• After the final closing of the last VAT period, you can perform the year-end reconciliation. Check especially whether subsequent entries have been correctly included in the VAT return.
• The official form for the year-end reconciliation can be obtained from the ESTV website. The overview generated in AbaNinja serves as a guide, but cannot be submitted directly.
• Only close the fiscal year when all VAT returns, including the year-end reconciliation, have been completed and there are no outstanding VAT entries. After closing, no further entries can be made.
• Use the VAT checklist in AbaNinja to trace the composition of the individual figures of the VAT return in detail and to detect discrepancies early on.
• It can always happen that after the last VAT return is submitted, a subsequent invoice must be booked. This VAT amount must be submitted with the year-end reconciliation, it is also called the "5th quarter".