Value Added Tax Report

Enter, or use Query to select, a parameter ID of up to 15 alphanumeric characters.  You should choose characters for your parameter ID that help identify the type of selections you made in the screen, such as “PERIOD” or “QUARTERLY.”  

When you save your record, all the selections made in the screen are stored with the parameter ID. Later, you can retrieve the parameter using Query.

You can use the parameter to produce reports and run processes more efficiently because you can select the parameter ID with its previously defined screen selections.  Once the default selections display in the screen, you can override the defaults as necessary.

Enter, or use Query to select, a parameter description of up to 30 alphanumeric characters.

Select this radio button to print a preliminary VAT report.  It is useful to review this report before printing the final report.

Select this radio button to print a final VAT report.

Note:  Once you have printed the final VAT report, you cannot reprint it.

Select this radio button to group the vouchers on your report by check date.

Select this radio button to group the vouchers on your report by the chronological date in which you entered them into the system.

Select this checkbox to print a supplemental report that details the transactions that were used in the calculation of the line item values of the VAT report.

Select this checkbox to print a sales list for use within the EU.

This list displays the country code, customer VAT registration number, the total value of supplies, and the indicator, if applicable. Member states of the EU use the information provided on this list to ensure that VAT has been properly accounted for.

Note:  This report is applicable only to invoices, sales orders, and bills in the EU (European Union).

Enter, or use Lookup to select, a valid Taxing Entity. The complete name of the Taxing Entity will display in the field to the right.  You originally set up the Taxing Entity in the Set Up Company Info screen.

This field automatically displays the Tax ID associated with the Taxing Entity. You created this association when you set up the Tax ID in the Set Up Company Info screen.

Note:  You can replace the defaulted Tax ID with another one since a company can have more than one VAT ID for VAT purposes.

You must select this checkbox for EU countries.

Enter the amount of excess input tax that your company overclaimed from previous returns.  The system subtracts this overclaim of input tax from previous returns from the total recoverable VAT amount. The VAT amount from bad debt is then added to this figure to form net VAT.

Enter the amount of output tax that your company understated on previous returns.  This understatement of output tax on previous returns, when added to the total VAT amount, equals the net VAT amount.

This field displays the tardiness, in days, of bills and sales orders that have not been paid to your company on time.  The system uses the supply date or, if that is not available, the invoice date to calculate the number of days.

This non-editable field defaults to "Range."

Enter, or use Calendar Lookup, a starting date.  All billing transactions with a supply date equal to or later than the starting date you enter in this field will display on the VAT report.

Enter, or use Calendar Lookup, a ending date.  All billing transactions with a supply date equal to or earlier than the ending date you enter in this field will display on the VAT report.

Note:   If the transaction in question does not have a supply date, the system will use the invoice date instead.