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The VAT period has been closed and should have stayed open
Hello there, Mike.
Closing your books helps lock in your data exactly the way you want it. It also prevents any unintended changes before filing your VAT, and that could impact your financial reports.
To edit transactions and correct entries in a closed period, sign in as the Master Admin and then turn-on the Close the books button.
Here's how:
For more details about editing closed books, please check this article: Edit your closed books.
Once you have reopened your financial records, you can now manage your VAT.
It is advisable to consult an accountant before making any changes, as they can ensure proper handling of these entries, confirm compliance with accounting standards, and address any underlying issues in your financial records.
If you have further concerns or additional questions, please feel free to click the Reply button. The Community team is always here to help!
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