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UK VAT Detail Report

When you generate an electronic report to send to HMRC for a UK VAT Return in Tax File Generation, you can also generate a detailed report that shows the Vantagepoint transactions that were used to determine the tax data.

Review the report to verify that the correct transactions were used for each box number for the return.

You can run the report from two places in Accounting > Tax File Generation, in the desktop application:

  • On the toolbar of the Tax File Generation form, click Generate File to generate a UK VAT return file. After the file is generated, you are prompted to print the detailed backup report, which is the UK VAT Detail report.
  • On the HMRC Interface tab of the Tax File Generation form, select a row in the HMRC Data grid that has tax data for a specific VAT return reporting period. Then click Tax Detail Report on the grid toolbar to generate the report for the reporting period.

For VAT return files that you generate for a group of companies as a single HMRC submission, the report includes the data for all the companies in the group.

The report is generated in preview mode, letting you print, email, or download the report. It includes a total line for each box number and tax code.

Contents

Field Description
Transaction Type This column displays the two-letter abbreviation for the type of transaction.
Invoice/Reference This column displays the invoice number or transaction reference number associated with the transaction.
Diary Code This column displays if the company is configured as one that uses diaries, on the Diary Auto Numbering Options section of Settings > Accounting > Transactions. This column displays the Diary Code associated with the transaction. The diaries are used to generate diary reports that contain a set of sequentially numbered transactions that have been posted to the general ledger during the fiscal year, or specific fiscal periods.
Diary Number This column displays if the company is configured as one that uses diaries, on the Diary Auto Numbering Options section of Settings > Accounting > Transactions. This column displays the automatically generated Diary Number associated with the transaction.
Period This column displays the accounting period in which the transaction was posted.
Post Sequence This column displays the posting sequence number for the transaction. Sequence numbers are assigned during the posting process: 1 to the first group of transactions posted during an accounting period, 2 to the second group, and so on.
Tax Point Date This column displays the date that the transaction took place. When you generate the UK VAT Detail report, on the General tab of the Tax File Generation form, in the AP Vouchers Use section, you select whether to use the voucher date or the invoice date as the Tax Point Date in the report.
Vendor/Client/Employee Name This column displays the vendor, client, or employee name associated with the transaction.
  • For billing invoices, this column displays the name of the billing client that an invoice was posted with.
  • For cash receipts, this column displays the billing client for the posted invoice that a cash receipt was applied to.

Overhead and promotional projects do not have a billing client, but journal entries with tax codes can be posted to these types of projects. In this scenario, the primary client that is entered for the overhead or promotional project displays in this column.

Project/Phase/Task This column displays the WBS element associated with the transaction.
Tax Account This column displays the account number where the tax amount was posted.
Base Account This column displays the account number where the base amount was posted.
Net Amount/Tax Basis This column displays the net amount of the transaction.
Tax Amount This column displays the amount of tax on the transaction.
Recoverable Amount This column displays the Tax Amount minus the Non-Recoverable Tax Amount if the Tax Amount is not completely non-recoverable. If a tax code has a non-recoverable rate that is different than the tax rate, then only some of the tax amount is recoverable.
Gross Amount This column displays the total amount of the transaction: Net Amount + Tax Amount.