Multi-currency, Tax & Fiscal Close
VAT return preparation, FX revaluation runs and the period-close checklist with blocking gates — finance managers, tax owners and auditors preserve correct monetary, rate and period treatment.
FIN-08
FIN-01
RPT-09
Period status
JUN-2026
Closing — gated
Net VAT payable (Q2 draft)
AED 212,260.00
VAT 201 · return period 01 Apr – 30 Jun 2026
Unrealized FX (preview)
AED (23,412.80)
Run FXR-2026-07-A · closing rates 30 Jun
Blocking close gates open
3 of 8
VAT approval · FX posting · e-invoicing reconciliation
VAT 201 preparation — TRN 100234567800003 · Q2 FY2026
Draft — pending Tax Owner approval
| Box | Category | Taxable amount (AED) | VAT amount (AED) |
|---|---|---|---|
| 1a | Standard rated supplies — Dubai Code AE-STD-5 · 5% | 8,412,500.00 | 420,625.00 |
| 1b | Standard rated supplies — Abu Dhabi Code AE-STD-5 · 5% | 1,905,000.00 | 95,250.00 |
| 3 | Reverse-charge supplies (imported services) Code AE-RCM · self-assessed | 96,000.00 | 4,800.00 |
| 4 | Zero-rated supplies (exports) Code AE-ZERO · 0% | 640,000.00 | 0.00 |
| 5 | Exempt supplies (residential leases) Code AE-EXEMPT | 1,280,000.00 | 0.00 |
| 9 | Recoverable input tax — standard expenses | 6,120,300.00 | (306,015.00) |
| 10 | Recoverable input tax — reverse charge | 96,000.00 | (4,800.00) |
| — | Input tax adjustment (credit note GTF-CN-031) Adjustment supplier credit, Jun tax date | (48,000.00) | 2,400.00 |
| Net VAT payable | AED 212,260.00 | ||
Prepared by Daniel Chen · 16 Jul 2026 18:41 · source: posted journals only
Effective-dated VAT codes & posting profiles
Open policy studio
| Code | Description | Rate | Effective from | Posting profile | Status |
|---|---|---|---|---|---|
| AE-STD-5 | UAE standard rate | 5% | 2026-01-01 | 2210 VAT output / 1210 VAT input | Active · approval CFG-1182 |
| AE-ZERO | Zero-rated (exports, first supply) | 0% | 2026-01-01 | 2210 VAT output | Active · approval CFG-1182 |
| AE-EXEMPT | Exempt (residential lease, bare land) | — | 2026-01-01 | No VAT posting | Active · approval CFG-1182 |
| AE-RCM | Reverse charge — imported services | 5% | 2026-02-01 | 2210 output + 1210 input | Active · approval CFG-1195 |
| AE-DZ-00 | Designated zone movement | 0% | — | — | Inactive template |
| AE-MARGIN | Profit margin scheme | 5% | — | — | Inactive template |
UAE 5% / zero-rated / exempt categories were seeded as inactive templates and activated only after Finance/Tax mapping approval (FIN-08 seeding rule).
Net VAT payable by month — Q2 FY2026Chart + table alternative
| Month | Output VAT (AED) | Input VAT (AED) | Net payable (AED) |
|---|---|---|---|
| Apr 2026 | 171,220.00 | 102,810.00 | 68,410.00 |
| May 2026 | 178,690.00 | 102,785.00 | 75,905.00 |
| Jun 2026 | 170,765.00 | 102,820.00 | 67,945.00 |
| Q2 total | 520,675.00 | 308,415.00 | 212,260.00 |
FX revaluation run FXR-2026-07-A — valuation date 30 Jun 2026
Preview — not posted
| Account | CCY | FC balance | Booked rate | Closing rate | Base before (AED) | Base after (AED) | Unrealized gain/(loss) | Target account |
|---|---|---|---|---|---|---|---|---|
| 1020 Bank — USD operating ENBD · AE07 0331 •••• •••• •••• 456 | USD | 425,000.00 | 3.67310 | 3.67250 | 1,561,067.50 | 1,560,812.50 | (255.00) | 7155 FX loss — unrealized |
| 1150 AR — EUR customers Falcon Trading FZ-LLC + 3 | EUR | 182,400.00 | 3.98120 | 3.94480 | 726,170.88 | 719,531.52 | (6,639.36) | 7155 FX loss — unrealized |
| 2110 AP — GBP suppliers | GBP | (64,750.00) | 4.61200 | 4.64950 | (298,627.00) | (301,055.13) | (2,428.13) | 7155 FX loss — unrealized |
| 1150 AR — SAR customers | SAR | 312,000.00 | 0.97930 | 0.97925 | 305,541.60 | 305,526.00 | (15.60) | 7155 FX loss — unrealized |
| 2310 Retention payable — USD Noor Development Group | USD | (890,000.00) | 3.65800 | 3.67250 | (3,255,620.00) | (3,268,525.00) | (12,905.00) | 7155 FX loss — unrealized |
| 1025 Bank — EUR escrow feeder Segregated — see client money | EUR | 36,200.00 | 3.98120 | 3.94480 | 144,119.44 | 142,801.76 | (1,317.68) | 7155 FX loss — unrealized |
| 1160 AR — USD brokerage Prime Link Realty referral | USD | 40,300.00 | 3.66950 | 3.67250 | 147,880.85 | 148,001.75 | 120.90 | 7150 FX gain — unrealized |
| 2110 AP — USD suppliers | USD | (21,500.00) | 3.67560 | 3.67250 | (79,025.40) | (78,958.75) | 66.65 | 7150 FX gain — unrealized |
| Net unrealized movement — posts with automatic reversal on 01 Jul 2026 | AED (23,412.80) | JV-2026-0708 (draft) | ||||||
8 monetary accounts in scope · rate provider CBUAE · rounding: line level, half-up, 2 dpOpen draft journal
Settlement example — realized difference (FIN-08 acceptance)
- Invoice
- INV-2026-2093 — USD 40,000.00 @ 3.67250 = AED 146,900.00 (tax date 02 Jun 2026)
- Receipt
- RCT-2026-1841 — USD 40,000.00 @ 3.67310 = AED 146,924.00 (15 Jul 2026)
- Realized difference
- AED 24.00 gain → posted to 7140 FX gain — realized
- Journal
- JV-2026-0699 · posted 15 Jul 2026 14:22 · source drill-down intact
The base-currency difference on settlement posts automatically to the configured realized gain/loss accounts — never to the invoice or receipt line itself.
Prior revaluation runs
| Run | Valuation date | Net movement (AED) | Journal | Status |
|---|---|---|---|---|
| FXR-2026-06-A | 31 May 2026 | (11,208.44) | JV-2026-0561 | Posted + reversed |
| FXR-2026-05-A | 30 Apr 2026 | 8,904.12 | JV-2026-0448 | Posted + reversed |
| FXR-2026-04-B | 31 Mar 2026 | (2,110.06) | JV-2026-0341 | Posted + reversed |
| FXR-2026-04-A | 31 Mar 2026 | (2,088.15) | — | Discarded — wrong rate type |
Sub-ledger tie-out
Reconciliations
Tax & revaluation
Management review
Close & certify
Fiscal close checklist — JUN-2026 · Al Manara Properties LLC (all branches)
3 blocking gates open
| # | Close gate | Owner | Gate type | Status | Evidence / workspace |
|---|---|---|---|---|---|
| 1 | AR / AP sub-ledger ties to control accounts | DCDaniel Chen | Blocking | Complete · 14 Jul | AR allocation · AP vouchers |
| 2 | Bank reconciliation approved — all 6 accounts | FRFatima Rashid | Blocking | Complete · 15 Jul | Reconciliation close |
| 3 | PDC diary reviewed — returns journalized | DCDaniel Chen | Warning | In progress — 2 returned cheques | PDC diary |
| 4 | Depreciation run posted for period | DCDaniel Chen | Blocking | Complete · DEP-2026-06 posted | Fixed assets |
| 5 | FX revaluation posted with reversal scheduled | FRFatima Rashid | Blocking | BLOCKING — preview awaiting approval | Run FXR-2026-07-A (this page) |
| 6 | VAT return prepared and approved by Tax Owner | FRFatima Rashid | Blocking | BLOCKING — draft submitted 16 Jul | VAT 201 tab (this page) |
| 7 | E-invoicing clearance reconciled to ERP documents | DCDaniel Chen | Blocking | BLOCKING — 3 rejected, 4 in retry | Clearance queue |
| 8 | Client money zero-unexplained-difference gate | GOGrace Okafor | Blocking | Exception EXC-CM-07 — AED 1,250.00 under investigation | Client money |
| 9 | Trial balance: total debits = total credits | System | Blocking | Balanced — 84,213,900.00 both sides | Control reports |
Gate evidence is retained with the close pack; unresolved client-money differences block close where configured.
Controlled close / reopen rules
- Close authority
- Finance Manager (Fatima Rashid) — cannot be delegated below L3
- Reopen authority
- Finance Manager + Auditor acknowledgement (Grace Okafor)
- Reopen reason
- Mandatory, free text + category; recorded in Audit Explorer
- Post-close entries
- Blocked; adjustments post to open period with disclosure
- Report effect
- Closed period reports flip to Certified status
Close attempt log
- 17 Jul 2026 09:05Close attempt rejected — gates 5, 6, 7 open
- 16 Jul 2026 18:41VAT 201 draft submitted for approval
- 15 Jul 2026 11:12Bank reconciliation approved for all accounts
- 14 Jul 2026 16:30Sub-ledger tie-out complete
Currency model
- Base currency
- AED — United Arab Emirates dirham
- Reporting currency
- USD (group consolidation view)
- Transaction currencies
- AED, USD, EUR, GBP, SAR (allowlisted)
- Rate provider
- CBUAE daily fix · fallback: ECB reference (flagged)
- Rounding policy
- Line level · half-up · 2 decimal places
- Rate types
- Spot (transactions) · Closing (revaluation) · Average (P&L translation)
Every transaction stores transaction, base and reporting currency values with rate provider, rate type, effective date and rounding policy — provider feed health at Provider Health.
Effective rates — 30 Jun 2026 (closing)
| CCY | Rate type | Rate to AED | Effective date | Provider | Status |
|---|---|---|---|---|---|
| USD | Closing | 3.67250 | 2026-06-30 | CBUAE | Imported |
| EUR | Closing | 3.94480 | 2026-06-30 | CBUAE | Imported |
| GBP | Closing | 4.64950 | 2026-06-30 | CBUAE | Imported |
| SAR | Closing | 0.97925 | 2026-06-30 | CBUAE | Imported |
| EUR | Average — Jun | 3.96110 | 2026-06-30 | CBUAE | Derived |
| USD | Spot — today | 3.67280 | 2026-07-17 | CBUAE | Awaiting 17:00 fix |
Static render mockup — no live data. Source: ERP Modern Development Specification v2.0 · Covers: FIN-08 (with FIN-01 posting immutability, RPT-09 close reconciliation).