Sales & Purchase Tax Control Account

[sackospuds]

Hi There,

I have a balance as at 31/03/2022 on both my sales and purchase tax control accounts.

The Sales Tax Account has a balance of £455.19dr and the Purchase Tax Account has a balance of £824.15dr

I am looking for a report which shows how these balance are made up as of that date ie it shows the amount of vat by invoice that makes up these balances

Many Thanks

Paul

[QFSteve]

Hello @sackospuds

You can get the activity you requested by

Reports > Chart of Accounts > Sales/Purchase Tax Account > Apply date range (01/01/2010-31/03/2022)

You can also Export Data and use Excel (or similar) to analyse the results.

[sackospuds]

Hi Steve,

Thanks for comin back to me. The report produced is just a list of transactions for the period specified. For example the Purchase Tax Control Accounts Shows 1,998 transactions. How would I know whihc transactios make up the balance in the purchase tax control account of £824.15dr.

Obvioulsy all purchase transactions with Purchase VAT are going into this account and then contra’d by way of the vat return when run. However it is the balance that is left that I need a report for ie What invoices make up the £824.15dr balance.

If I look at a Trade Creditors report and then go through the outstanding Purchase Invoices for the year end to see what invoices have VAT on then I calculate this to £431.53dr - However the Purchase Tax Control Account shows £82415dr.

I would have to go through and cross check what transactions have been included in the VAT returns and what havent in order to be able to identify why the balances are different. Possibly a few days work at a guess.

Is there no report which tells you what the balance of £824.15 is made by invoice?

Many Thanks
Paul

[ian_roberts]

Are you on cash or accrual accounting for VAT? If you’re on accrual then preparing (but not submitting) your next VAT return would let you export the details showing exactly which items will be included in that return, which should be close to adding up to the outstanding totals. On cash accounting it’s harder to reconcile as the next return export will only list invoices and purchases that have already been marked as paid.