Recalculate VAT report

There may be a difference between the VAT report and the VAT on your expenses and income in Gekko. The are a few reasons for why these difference may occur.

The most common cases are the following:

• you calculate your VAT report
• you add a receipt or invoice ( or remove one)
• you see that the VAT report is no longer correct

Does the VAT report need to be recalculated?

In short, yes. You need to have Gekko recalculate the VAT report.

If any costs or invoices were incurred after the VAT report was calculated, then it will be incorrect. This makes sense, because when you calculate the VAT report, you may file your return immediately. If Gekko were to automatically update the VAT report whenever costs or income are added or removed, the VAT report would differ from your tax return to the tax authorities. That is obviously not the intention. 

That is why the VAT report is not automatically updated. Gekko shows the date on which the VAT report was calculated, so you can easily find it again.

Example: add receipt AFTER VAT return

If you do not recalculate the VAT report, any additions/adjustments made after calculating the VAT report will be included in the Q4 VAT report. For example: you calculated the VAT return for the second quarter, filed it, and paid it on July 17. 

On August 1, you find another receipt for €121 for materials from May 20, i.e., the second quarter. You have already closed this quarter and filed your return. You should NOT recalculate this. Gekko will automatically include it in the fourth quarter. In the VAT report for the fourth quarter, you will see the option: “including correction for previous quarters” (see screenshot below).

You can check or uncheck this option, and you will immediately see what changes in your VAT report.

Simply enter VAT corrections up to €1,000.

The Belastingdienst can sometimes be accommodating. For example, if you have a minor correction such as the above receipt for €121, of which €21 is VAT. You can simply include this in your next VAT return if the VAT correction is less than €1,000. This saves you some work. If you have to pay or receive more than €1,000 in VAT, the Belastingdienst requires you to submit a supplementary return.