How To: Check your VAT Rates before processing a VAT Return

Table Of Contents

Introduction

Before processing a VAT Return, it is good practice to review the VAT transactions that will be included in the return.

The Tax Analysis function allows you to check VAT codes, tax zones and transaction values within a selected date range. This can help identify any unusual transactions, incorrect VAT coding or entries that may affect your VAT Return.

Review VAT Transactions

Open an Accounts screen (show me how).
Open the [ Tax (VAT) ] tab.
Click Tax Analysis.
In the Tax Analysis window:
- Select the required date range using the date filters.
- Tick Show All (or choose to display only non-excluded entries).
- Click Go to populate the results.
Review the transactions displayed in the grid.
Scroll to the right-hand side of the grid to view the Zone and Code/Zone columns.
These fields show the VAT zone and VAT code assigned to each transaction, allowing you to verify that transactions are being reported correctly.
When you have finished reviewing the data, click Cancel to close the window.

Tips

Sort by VAT Code

To group similar VAT entries together:

Click the Code/Zone column heading to sort the grid.
Alternatively, place the cursor in the Code/Zone column and press Ctrl + Shift + R to filter for a specific code.

Print or Export the Analysis

The Tax Analysis grid can be printed or exported for further review.

For more information, see:

Why Review VAT Rates Before Processing?

Reviewing VAT transactions before submitting a VAT Return can help you:

Confirm transactions have the correct VAT code.
Verify that sales and purchase transactions are assigned to the correct VAT zone.
Identify unusual or unexpected VAT values.
Reduce the likelihood of errors in your VAT Return.
Make VAT reconciliation and auditing easier.