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Submit VAT Return

Submitting your VAT return involves ensuring your financial records are accurate in Bullet, generating the required files, and submitting them through the Revenue Online Service (ROS). This guide outlines the end-to-end process.
Please check the video overview below:

Step 1: Ensure Your Bank Account is Fully Reconciled

Before generating your VAT return, you must ensure all bank transactions are correctly recorded in Bullet.

  1. Go to the Hub drop-down menu in the top-left corner and select Accounts and Payroll.
  2. On the Accounts and Payroll homepage, click Bank Account on the left menu.
  3. In the drop-down, click Overview.
  4. Locate the bank account you mainly use and click the Reconcile Account button beneath its name.
  5. Check the reconciliation screen to ensure you have no remaining unreconciled transactions.
  6. For a final check, go back to the Bank Account Overview, click the Imported Transactions button, and confirm that all items display the status Reconciled.

How to Submit Your VAT Return Using Bullet and ROS

Submitting your VAT return involves ensuring your financial records are accurate in Bullet, generating the required files, and submitting them through the Revenue Online Service (ROS). This guide outlines the end-to-end process.

Step 1: Ensure Your Bank Account is Fully Reconciled

Before generating your VAT return, you must ensure all bank transactions are correctly recorded in Bullet.

  1. Go to the Hub drop-down menu in the top-left corner and select Accounts and Payroll.
  2. On the Accounts and Payroll homepage, click Bank Account on the left menu.
  3. In the drop-down, click Overview.
  4. Locate the bank account you mainly use and click the Reconcile Account button beneath its name.
  5. Check the reconciliation screen to ensure you have no remaining unreconciled transactions.
  6. For a final check, go back to the Bank Account Overview, click the Imported Transactions button, and confirm that all items display the status Reconciled.

Step 2: Access and Review the VAT Return

Bullet automatically generates your VAT return, but you need to check the details before submission.

  1. Go to the Accounts and Payroll Homepage and scroll to the bottom to view the To-Do list.
  2. You will see an item for your VAT tax bill, including the amount and due date. Click the Check it out link.
  3. Alternatively, you can go to the Taxes and Returns section on the left menu.
  4. On the Taxes and Returns page, click on the date of the VAT return you wish to submit.
  5. On the VAT Return Details page, review the VAT items for this period. Check the overall VAT due amount and confirm that all transactions look correct.

Cautionary Note: Do not add any new bills or invoices into VAT periods that have already been submitted, as this will change the previously reported VAT amount.

How to Submit Your VAT Return Using Bullet and ROS

Submitting your VAT return involves ensuring your financial records are accurate in Bullet, generating the required files, and submitting them through the Revenue Online Service (ROS). This guide outlines the end-to-end process.

Step 1: Ensure Your Bank Account is Fully Reconciled

Before generating your VAT return, you must ensure all bank transactions are correctly recorded in Bullet.

  1. Go to the Hub drop-down menu in the top-left corner and select Accounts and Payroll.
  2. On the Accounts and Payroll homepage, click Bank Account on the left menu.
  3. In the drop-down, click Overview.
  4. Locate the bank account you mainly use and click the Reconcile Account button beneath its name.
  5. Check the reconciliation screen to ensure you have no remaining unreconciled transactions.
  6. For a final check, go back to the Bank Account Overview, click the Imported Transactions button, and confirm that all items display the status Reconciled.

Step 2: Access and Review the VAT Return

Bullet automatically generates your VAT return, but you need to check the details before submission.

  1. Go to the Accounts and Payroll Homepage and scroll to the bottom to view the To-Do list.
  2. You will see an item for your VAT tax bill, including the amount and due date. Click the Check it out link.
  3. Alternatively, you can go to the Taxes and Returns section on the left menu.
  4. On the Taxes and Returns page, click on the date of the VAT return you wish to submit.
  5. On the VAT Return Details page, review the VAT items for this period. Check the overall VAT due amount and confirm that all transactions look correct.

Cautionary Note: Do not add any new bills or invoices into VAT periods that have already been submitted, as this will change the previously reported VAT amount.

Step 3: Generate the ROS File

You need to create the required file format for submission to Revenue.

  1. While viewing the VAT Return Details in Bullet, look for the Generate ROS File button on the right-hand menu.
  2. Click Generate ROS File and save the generated file (VAT3 file) to a designated, easily accessible folder on your computer.

Step 4: Submit the VAT Return in ROS

  1. On the VAT Return Details page in Bullet, click the Open ROS button to be directed to the ROS website (ensure you are logged in).
  2. Once logged into your ROS account, scroll down to the File a Return section.
  3. Click on Upload Forms Completed Offline.
  4. You will be asked to select the return type. Choose VAT3.
  5. Click the Upload Return button.
  6. On the new page, click Add File and select the VAT return file you previously downloaded from Bullet.
  7. Verify that your ROS Certificate is selected for signing the submission.
  8. Enter your ROS Password.
  9. Click Upload File to complete the submission of your VAT return.

Step 5: Finalize and Set Up Tax Account

Once the return is submitted, it’s wise to ensure your tax funds are managed correctly.

  1. Set Up Tax Account: Create a separate bank account specifically for tax purposes.
  2. Transfer Funds: Regularly transfer the total tax amount calculated on your payslips and VAT returns into this dedicated tax account to ensure the money is available when due.
  3. Ensure Direct Debit: Confirm that you have a direct debit payment mechanism set up with Revenue to automatically pay the VAT due, avoiding late payments.