I have been asked for a detailed Nominal Ledger Report by the Accountant.
I have seen previous threads for this query but they are quite old so I wondered if there had been any changes or if this would now be available.
I can’t find the option in export and was asked to Backup first, which I have done but still can’t get an option to export detailed report.
UPDATE (May 2017): Since this post was made a detailed ledger report was added to the Chart of Accounts screen. You will find this by clicking the Export button.
Backing up is the correct way to generate this report. Because of the size of it, we include it as part of an on-demand back up, rather than the automated ones.
If you go into the back up settings (Account Settings >> All Settings >> Weekly / Monthly Back up Schedule), you’ll see an option to run it now. It does take a few minutes to generate, but this will then be delivered by your chosen method (email or dropbox)
There’s a more detailed explanation here.
Hope that helps!
Would your accountant consider just having you create them a set of login credentials for QuickFile so they can drill down themselves to whatever level of detail they require?
The Accountant has login credentials already but unfortunately they still want a report. I don’t think they are too keen on Quickfile to be honest.
Thank you for you reply
Did they give any reason?
In my experience there are some accountants who are simply unwilling to adapt to the needs of their clients and would rather funnel everyone onto a single platform as it saves them time learning anything new.
I think this is the case Glenn.
They are asking for a VAT report which I can’t find on quickfile,
They need a report showing the following for each transaction:
Date, Name, Item Memo, Net, VAT Code, VAT, Gross
Is this something we should have set up when we became VAT registered?
Its the flat rate VAT scheme.
I was new to VAT when we registered and trained on SAGE so I didn’t know what was required until now.
When you produce a VAT return in QuickFile you will be able to download a backing report. This report will breakdown the calculations for each of the boxes and itemise all the invoices and purchases included in the totals.
When did you register for VAT? Have you filed any returns on QuickFile yet? QuickFile can handle Flat Rate VAT and file your returns electronically, we can certainly help you set this up.
I think it was 01/08/2015 and my client has been doing the VAT outside of QF.
I may have to back track as flat rate was on the turnover and we assumed we didn’t need to show the VAT on each invoice due to it not being calculated on that.
is there an extra fee for the VAT? We would like to set that up. I’m not sure why the Accountant needs the detailed report if we are on the Flat Rate scheme but then VAT is new to me as I said.
Unfortunately I wasn’t aware of what the Accountant would require at the beginning or it would have been done.
You can create the VAT returns on QuickFile for reference. I’ll send you a private message to get a few more details and see if we can get this all sorted for you
Is it usually required to show VAT on purchases when on the Flat Rate Scheme?
Not on purchases as in most cases you can’t reclaim VAT on purchases within the Flat Rate Scheme.
On your sales invoices you just mark them up with the standard rate of VAT (20%), when you prepare a VAT return QuickFile will calculate the total VATable turnover and multiply that by your allocated flat rate percentage (e.g 14%).
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Just a quick on to let you know that we have brought back the detailed ledger export option on the Chart of Account screen. This will allow you to extract all detailed ledger items for a specific period with the ability to only include selected categories from the Chart of Accounts. The report will contain a summary and a list of detailed transactions arranged in date order or grouped by nominal code.
At the moment this report is capped to 15,000 entries. If your reporting period exceeds these number of entries you would need to either narrow the date range or run a backup which will include all ledger entries.