Closing VAT report

The Closing VAT report will produce a list of all the unclaimed items, in summary or detail, as at the specified closing date. It will also show if subsequently the transaction has been included on a return.

• From the main menu, click on VAT > VAT returns

• Click Reports button. 

• Select Summary or Detailed report

The summary report displays one line per transaction and includes the transaction number and the trader name.

The detailed report displays all the item lines in a transaction and shows the description for each line.

The Output VAT for the date of the report should equal the amount on the TB for the Sales VAT Control account, and the Input VAT for the date of the report should equal the amount on the TB for the Purchase VAT Control account.