Tracing VAT return values

[rozhawk]

Is there any way to trace exactly where the values in a VAT return have come from?

Usually I just compare to the chart of accounts for the same period but in my return for the 2nd quarter of 2015 I am really struggling to work out where the value for ‘total value of purchases excl. VAT’ (box 7) is coming from. It doesn’t seem to immediately match up to the chart of accounts so I assume there is something else going on but have no idea how to work out what?

Are all Purchases, Direct Expenses and Overhead included when calculating box 7? in this instance even if it does the value in box 7 doesn’t equal the sum of all the entries in the chart of accounts for that period that I can see.

Any suggestions?

[ian_roberts]

I’m not VAT registered (yet) but my understanding is that it is calculated from purchase invoices, which would include things like asset purchases (which don’t figure in P&L) but not things like PAYE salary payments or bank charges (which are overheads in P&L but don’t attract VAT).

[Glenn]

@rozhawk

Is there any way to trace exactly where the values in a VAT return have come from?

This is possible, you just need to download the backing report, this will tell you exactly how the figures are derived.

[rozhawk]

Thanks Glenn - exactly what I was looking for. Much appreciated.