I am contemplating migrating to Quickfile to keep the accounts for a business which is Partially Exempt. We currently use Sage and we have set up various Vat Codes for Purchases and the Vat Code used for any transaction is dependent on the Nominal Account to which it is posted. There are three Codes which charge the same rate of 20%. We pull Audit Trail Transactions into a spreadsheet as this contains the Vat Code, Vat amount and the Nominal Code fields we are able to analyse the Input VAT by the type of supply.
Is there any way that I can obtain a CSV Transaction Report from QuickFile which gives for each Nominal the Transaction Amount and the Vat Amount?
As the business is Partially Exempt, we do not have to use MTD.
Many Thanks for any help.
This is slightly tricky because the only place I’m aware of in QuickFile where you can get the separate net and VAT amounts broken down by nominal code is in the Purchase_Invoice_Items.csv file of a full account backup - this includes all your purchases across all time so you’d have to filter it by date in Excel or similar.
The issue is that the VAT breakdown only exists on the purchase records - if you start from the nominal accounts it doesn’t give you the VAT, only the net - but normally when you export the results of a purchases search you can only see the total net and VAT for each purchase as a whole without the nominal code. The fundamental problem is that one purchase can be split across more than one nominal code, so the nominal code is at the purchase line level rather than the purchase invoice level, and the only report that exports right down to the level of purchase lines is the account backup.
If any single purchase is always either related to taxable supplies or related to exempt supplies then you could use a project tag to distinguish between them, but if you have to split one purchase as partly reclaimable and partly not then the account backup is the only way I can think of to extract the necessary level of detail.
Thank you for your prompt reply.
The partial exemption rules dictate that all our purchases have to be categorised into one of three categories: Exempt supplies, Taxable Supplies and Residual Supplies. We use different nominal codes for categorising and analysing them. All purchases use a single Nominal and are not split.
Is there a Unique Reference No or Audit Trail No or ID which is given to the Transactions as they are created or imported which links the Net Transaction, Vat Transaction and the Gross (Creditors Control/Bank)? If so, I could use this to link as a join for my analysis.
I had not thought of using the Project field and am not sure how that would work. I am prepared to try it out to see if it serves my needs. Any guidance would be appreciated.
Many Thanks
Hi @Dalip_Bradway,
There is a guide on project tags here: Projects in QuickFile
As Ian has mentioned without having to filter through an account back up that is probably the easiest way for you to see the breakdown
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