Just set up my custom dashboard totals to include VAT however it is showing as 0 despite there being a VAT credit in the ledger?
Which nominal(s) have you added there? As you add sales and purchases the totals add up in the sales and purchase tax control accounts (2200 & 2201), when you submit a VAT return the calculated liability or refund is moved to 2202. So you’ll only see a value in 2202 after you’ve run a VAT return and before you’ve paid (or received a refund from) HMRC.
ahh OK I had added 2202. So is there a way to get a running VAT liability/Credit on the dashboard?
Hi Paul,
2200 would be the nominal for what you’ve taken in from sales
2201 would be what you’ve paid out on sales
2202, as @ian_roberts pointed out, will only be shown if you’ve run a VAT return and before you’ve paid HMRC
There isn’t currently a way to show the difference between the two. But perhaps the custom reporting tool would be helpful?
http://community.quickfile.co.uk/t/build-a-custom-report/8863
What I was hoping for in the thread I originally started here on this subject is at a glance short term creditors and liabilities on the dashboard. inc CC, VAT etc.
Yes I can run reports but it does not give me an at a glance short term position. Any chance of extending the custom report functionality (to subtract one NC from another for example) to that comma separated list.
Hi @Paul,
Leave this with me - I’ll see what @Glenn says about this and I’ll come back to you in the morning.
I’m not sure how easy it would be to show this, or if even the money owed vs money due is the correct place to show this?
OK thanks. I would say though that if your VAT is mainly a one way street (eg few VAT-able purchases but lots of VAT-able sales or vice-versa) then this number is important in getting a feel for how you are doing.
For a shop for example it is less useful. But for a VAT registered consultant or as in my case a food producer then the VAT plays a big part.
The closest you can get here is the total of the sales and purchase tax control accounts stated individually on the dashboard.
At the moment there’s no way to include a NET of the two on a single line.
For now I’ve switched this to a feature request and we’ll monitor interest from other users.
Ok thanks I’ll try that. Though will I need to include 2202 so that it does not disappear once I have submitted a VAT return?
EDIT- So I put in 2200 and 2201 - but the difference is not the same as the VAT report, what am I missing?
2200 and 2201 will show the balance of VAT invoiced. If you’re on cash accounting your VAT report will show you VAT against payments made so it will most likely differ.
If you wanted to track VAT liabilities to HMRC then 2202 would also need to be there too.
Can re post this feature request ?
"Your upcoming VAT payment at a glance"
Request for a change to the custom totals facility on the dashboard so that it will reflect an accurate running figure for your next VAT payment or refund.
Add your input if you support please!
Feel free to repost a revised feature request. I will then move this post into support and close.
I will say however that we won’t be able to show a live running VAT calc in the dashboard. The best we can do is NET those two figures. The VAT calculations that are made inside the VAT return are computationally very expensive, particularly with cash accounting and it would not be practical to have this running inside the dashboard.
OK will do.
Could you re-calculate the VAT figure when an item is tagged or 2200/1 is changed, rather than keeping it live?
Loving the power user extra dashboard totals - having the Credit Card there is a great help.
I expect with the en-mass upgrade to Power Users you are going to be deluged with requests for extra dashboard items. - But then this is really making the accounts actually useful rather than just a chore that needs to be done. Really accurate, up to date info so you know what is just around the corner. Brilliant!
Caching the figure (perhaps once every 24 hours) is one way but we can’t link this to activity on the nominal account, batch operations would absolutely kill the database. I don’t really see a simple solution here, we always need to think about the effects on large accounts and how these new features will impact overall performance.
If it’s something other users come back and request we can certainly revisit this.