I’m a LTD company VAT registered business, and I’m looking to find if there is a simple way to generate a report which tells me my income / turnover, after VAT on the invoices which contain that.
I’d like to be able to select 2 dates i.e. 1 Oct to 31 Oct and run a report which can tell me from all of the invoices logged as paid in the period how much money has been brought in EX the VAT. Not all of my invoices contain UK VAT, some are out of scope, some are EU sales etc.
Currently I’ve been going through each invoice and noting down the actual sub totals and adding it up. I’m hoping there’s a simpler & quicker way…!
The Profit and Loss report may be what you are looking for? This breaks the values down by nominal code so General Sales etc won’t include VAT as that goes to a separate nominal account.
Thanks Beth, that does help to an extent, as didn’t realise that report showed sales minus VAT.
However, it is pulling in all sales from the period, rather than invoices paid for the period if you see what I mean? I work on cash accounting VAT so need to know the situation of what has been paid for the period, not just the amount invoiced, if that make sense?
In that case, you may be best to run a dummy VAT return? You would need to remove the online filling tick from your VAT settings (remember to add it back before trying to submit a return). You can then set the custom date range and export the backing information.
