Season 2 · Episode 10 of 10 · 1:32
How to read your UAE VAT return in TailorSync, box by box
TailorSync works out your UAE VAT return from the sales, purchases and expenses already recorded in it: in Finance, under VAT, you pick the quarter and open the VAT return view, which follows the FTA's VAT201 form box by box. This episode reads the net liability and the sales by emirate, then Box 1, Box 9 and Box 14, and downloads the figures to type into EmaraTax. Check them with your accountant before you file.
Watch on YouTubeWhat the video covers
- 1Pick the quarter. In Finance, click VAT. Open the date filter and pick This VAT quarter. Once a quarter ends, pick it by its months.
- 2Net liability. This is the VAT you owe: what you charged on sales, minus what you can claim back on purchases and expenses.
- 3Sales by emirate. Below, your sales are split by emirate, by where each sale was made. These are the rows of Box 1.
- 4The VAT return view. Click VAT return. It follows the FTA's form box by box. Box 1 has a line for each emirate, with credit notes already taken off.
- 5Box 9 and Box 14. Box 9 is the VAT on your purchases and expenses. Box 14 is what you pay for the quarter: the VAT due, minus what you get back.
- 6Into EmaraTax. Download the PDF or the CSV and type each box into EmaraTax. Check the figures with your accountant before you file.
Transcript
Everything the video says, under its chapters. Click a time to play the video from there.
Before you start
Every quarter, your VAT return tells the FTA the VAT you charged and the VAT you paid. In this video you'll read it in TailorSync, box by box, ready to type into EmaraTax.
Pick the quarter
In Finance, click VAT. Open the date filter and pick This VAT quarter. Once a quarter ends, pick it by its months.
Read the statement
Net liability is the VAT you owe: what you charged on sales, minus what you can claim back on purchases and expenses. Below, your sales are split by emirate, by where each sale was made. These are the rows of Box one.
The VAT return
Click VAT return. It follows the FTA's form, box by box. Box one has a line for each emirate, with credit notes already taken off. Box nine is the VAT on your purchases and expenses. Box fourteen is what you pay for the quarter: the VAT due, minus what you get back. Download the PDF or the CSV, and type each box into EmaraTax. Check the figures with your accountant before you file. That's the end of Season 2. Season 3 starts by bringing your customers across.