Reports -> VAT report
The VAT report is generated based on the data from sales invoices and purchase invoices and is categorized according to the VAT percentage specified by the type of VAT. Purchases or sales entered as financial transactions are not reflected in this report.
The purpose of the VAT report is to serve as an additional tool to verify the accuracy of the VAT amount due for payment or prepayment.
You can read more about the VAT report and related topics here.
The VAT report cannot be exported to e-MTA, the required file is available with the VAT statement.
Clicking on the row in the report will display additional information about the invoices where the corresponding VAT rate has been applied.
In this example, sales revenue is recorded with a 22% tax rate on two sales invoices, and the VAT amount is also shown.
Comparing the amounts in the VAT report and the VAT statement shows that the overpaid VAT amount is the same in both reports, so it can be assumed that the data is correct.
Permissible differences in the report totals include the VAT amount paid on imports under account 1511 and, in the case of partial deductions for vehicle expenses, half of the input VAT amount for vehicle expenses (the VAT report currently shows the total amount).
It is also important to check the period closing entry under the VAT statement to ensure that the aggregate VAT account (account 2510) is in alignment as well (remember to save the period closing entry monthly). If a rounding account has been added to the closing entry, the allowable difference there is between 0.01 and 0.05 euros; for larger discrepancies, the reason should be investigated.
If you have any additional questions, write to us at support@simplbooks.ee
Leave A Comment?