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Sales VAT report


#1

How do I produce a report showing Customer’s name, invoice number, invoice total and the VAT code allocated which should be Flat Rate Scheme VAT. I need this to produce the figure owing to the HMRC VAT and also to show me if I have allocated an incorrect code anywhere. Thank you.


#2

There is no such a report in Manager currently. But when you go to Reports tab, there is a report called VAT Return (UK) which should give you all the figures you need. If it doesn’t, then let’s improve it so it does.


#3

Screen shot is accrual basis but cash basis comes out the same. As Flat Rate scheme is 10% it’s not difficult for me to calculate but I need something that shows me I have remembered to apply the correct tax rate to each invoice, and if there is an error which invoice is it. I have checked that my VAT codes are correct.


#5

There is a report Tax Audit which shows how tax codes have been allocated among accounts. For example, if you have income account Sales, all the transactions subject to VAT 20% (FRS) should be under that column. That’s the best way to verify tax codes have been assigned properly across all transactions.

But I just remembered that VAT 20% (FRS) tax code doesn’t affect VAT calculation worksheet. The reason being that if you are under flat rate scheme, you can’t claim any VAT back so this worksheet is not relevant. Tax Summary report will give you relevant figures.


#6

I am still having VAT report problem. This company is on Flat Rate Scheme so although the sales invoice to the customer includes 20% vat the amount paid to HMRC is 10% of the final sales figure (i.e. 10% of net plus 20% vat)
I really do need a report that will show invoice details (name & number), total (gross) charged to client and 10% of the gross.
Clicking on sales in the summary, tax audit, tax summary and general ledger transactions all give a gross MINUS 10% which is actually incorrect for FRS.
Tax reconciliation is the correct 10% but does not provide the invoice details and total (gross) sales within the report.
Hope you can help as this is causing quite a problem.


#7

Any thoughts please.


#8

So you need list of transactions subject to FRS which will show total sale amount and 10% tax amount, is that correct?

Do you have to submit the whole report to HMRC or are you only looking for figures.


#9

I need a report for the owners of the business, not HMRC. (I do their accounts at my home on a weekly basis.)
This is then used for a comparison report which is used to check that being on FRS is still the best VAT option.

Report needs Customer name, sales invoice number, total charged to customer and 10% of that total. (4 columns).


#10

I see. I’ll add this to my to-do list to come up with something. Most likely I will make Total sales figure clickable on Tax Summary report which will give you the breakdown you are after.


#11

Thank you - much appreciated.