VAT Reports - Print View

This option gives a sub-menu of three reports analysing the transactions against the VAT code.

VAT Summary

This report lists the total goods amount, tax, and for the purchase ledger, the EC Acquisition tax for each of the tax codes defined in the tax table. It is usually a single page report but if using ‘Cash Accounting’ a second page analyses the payments by tax code.

Include Previous Periods

Provided you are retaining analysis transactions for more than three periods (thus not applicable for Compactsystems) the VAT Summary can report for more than one period. If you wish to include up to two previous periods set this option and set the number of previous periods to include (1 or 2). The system will automatically set the ‘Starting Transaction Control No’ relative to the number of periods to include.

Comment Printed for this Period

Automatically updated with a text commentary reflecting the period the report covers but it can be manually updated if required.

This report and the two EC VAT reports allow the facility to report for up to two previous periods. If you wish to analyse the VAT over a greater length of time then you can use selection criteria on this report to do this, provided that you are retaining analysis transactions.

To report earlier periods you need to set within the selection criteria the starting record as ‘1’ and then enter criteria for the appropriate date range. When allowing posting using a previous periods date, then you will need to modify this slightly and use two lines of criteria – one to allow transactions with a date greater than (say) the start of the financial year, and a second line to only report transactions for the period range of x to y.

Similar criteria can be entered on other transaction reports to include details from previous periods.

EC Totals Report

This selects those transactions which have EC tax codes defined in them and sorts them by account within country. A line is printed for each account to show the country, the tax registration code, the goods amount, and (for the purchase ledger only) a calculated "acquisition tax” value for the goods. Overall totals and totals per country code are also printed.

EC Details Report

This report shows the detailed analysis transactions that go to make up the totals report above.

Article ID: 1311
Created On: Mon, Jul 2, 2012 at 11:15 AM
Last Updated On: Mon, Jun 19, 2023 at 3:54 PM