Swiss Annual VAT Reconciliation (Beta)

In Switzerland, VAT Reconciliation (Value Added Tax) is an essential process to ensure that the accounting data relating to turnover and VAT calculations are consistent with the figures declared to the FTA (Swiss Federal Tax Administration). 

To simplify and speed up the VAT reconciliation process, an extension has been developed with an automatic procedure that immediately identifies and compares the declared amounts with those recorded in the accounting file, highlighting any differences and the transactions that generated them.

Prerequisites

To use this extension:

• The Advanced plan of Banana Accounting Plus is required. In the future, a special subscription or an additional fee may be required.
• The accounting file must use double-entry bookkeeping.
• Download the Swiss Annual VAT Reconciliation (Beta) extension.

Beta version

The extension is currently released as a beta version. This means that some details may change without prior notice.

Installing and using the extension

• Install Banana Accounting Plus.
• Install the Swiss Annual VAT Reconciliation extension. From the Extensions > Manage Extensions menu, find and select Swiss Annual VAT Reconciliation (Beta), then click the Install button. See the Managing Extensions documentation.
• Once installed, the extension will be available from the Extensions menu, where it can be run.

VAT Reconciliation extension

To perform VAT Reconciliation in Banana Accounting:

• Open the accounting file.
• From the Extensions menu, select the Swiss Annual VAT Reconciliation extension.
• 1. Print report
  • To generate the VAT Reconciliation report.
• 2. Accounting/VAT Differences
  • To view the details of the differences between the declared turnover and the turnover recorded in the accounting file.