I have noticed that the figures in the VAT report under the tax summary are different sometimes from the VAT return for that period.
I drilled down into the difference, and it seems that when a document is first created i.e. lets say a sales invoice, i created that in June 2014, but had to change the date to July went it was sent.
The VAT return has picked up this change of date but the VAT under the tax summary did not.
Also a client, entered a purchase invoice in error with VAT (he is on flat rate so there is no purchase vat).
He went in and amended that purchase invoice, so now there is no purchase vat in the system i.e. the VAT return, but the VAT in tax summary still has it.
Hope you will find these observations helpful in tweaking the VAT tax report.
If the account is setup for cash accounting or flat rate they will most likely be different. The VAT report is based on invoice dates, the VAT return for cash accounting is based in when payments are attributed to invoices.
i feel that there is some sort of linking issue with the new VAT report (rather than cash/accrual basis of reporting)
Like i said in my first post , the VAT return picks up the change but the VAT report under tax summary does not.
if you recall, sometime back i had requested a feature ‘VAT statement’, and i am glad that we now have the VAT report under the tax summary.
The VAT report is aiming at showing what is the liability/amounts due for VAT, so a statement or a report are both trying to achieve the same objective.
Can i suggest that we change the format of the VAT report to look like a ‘statement’ , which will give a user better visibility of the VAT liabilities and future expected liability.
I have pulled a screen shot from another accounting software, and something similar to this format would be ideal for any user. Hopefully this won’t be too difficult to implement. Many thanks
This looks like a summary of the VAT liability ledger. You could achieve much the same by querying the 2202 ledger in Quick File. Perhaps I’m missing something but the only difference I see here is the balance column?
You are right, it tries to achieve what is in the VAT liability ledger, and to that it adds the balance column, the expected VAT liability for the next quarter and its under its own section i.e. taxes summary.
This sort of summary is more visible in the taxes summary especially to a non-accountant.
I would not expect majority of the people to drill down to chart of accounts and look for account 2202.
It just makes QF even more user friendly.
Same logic goes for my request for a fixed assets report/schedule showing a summary of assets at cost and the accumulated depreciation, its a nice to have report both for accountants and non-accountants.
I think a simple solution for now would be to link to the ledger from the VAT report. I’m not keen on duplicating content as it just makes the whole thing more of a challenge to maintain.
We’ll certainly keep an eye on your other suggestions and review over time.
