Incorrect amount on vAT declaration

Yes, that is indeed how you should do it!

My previous accountant once gave me the following explanation for paying vAT:

You should view your VAT account as a current account that should never fall below 0 euro. You can deposit 10,000 euros into it when you start your self-employed activity and then submit a vAT declaration every quarter for 1,000 euros in vAT paid. You can then submit 10 more returns before that account reaches 0 euros.But you can just as easily pay every quarter or, for example, have a quarter in your favour and leave that balance as it is. It all adds to or subtracts from your fictitious 'vAT current account', as long as it never goes below 0 euros. Because then the vAT authorities will not be happy and they will charge interest.So yes, it is now in your credit balance and next time you can offset it against what you would have to pay. By the way, here's a handy tip! Search for 'vAT balance' in the learning center and you'll find a video showing you how to look up that balance yourself. This is useful if you're not sure how much vAT you have in your favour, which may be the case if you have a balance in your favour for several quarters in a row, for example.

Regards, Wim

Thanks for the information!