There are three reports provided in the Nominal Ledger VAT menu to assist reconciliation of VAT statistics, where the turnover has been deferred in the balance sheet prior to releasing it into the P & L (annual maintenance contracts and other pre-paid charges being examples.). In these cases the original invoice is probably allocated to a balance sheet suspense but the VAT statistics are updated with the entire turnover base amount and charge at that time. In subsequent months, as the turnover is released into the P & L, the position will reverse, with turnover existent without supporting VAT statistics.
These reports are only applicable where you are adhering to the standard VAT codes recommended by Support during implementation, which are as follows:
S - Standard rated goods and services (except the ex-factory element of vehicles)
C - The ex-factory aspect of vehicles, i.e. the vehicle itself and any factory fitted options.
X - Export goods and services
Z - Zero rated goods and services
O - Goods and services outside of the scope of VAT
E - Goods and services exempt from VAT
Note: Any codes other than these will be treated as 'others' where relevant. In order to use these reports in a VAT code structure other than the standard recommended will require some changes to the overlay programs and report formats that drive them. Users should contact support where this requirement exists.
This first report, utilising report generator output to screen, interrogates the Nominal Ledger transaction file for all records with a posting in the period specified by the selection criteria prompted and entered by the operator at run time, and where the expense code VAT analysis is either 1,2,3 or T. (see expense code set up earlier in this on-line help). Bear in mind that if the VAT analysis code is something other than 1,2,3 or T, this report [Range of Daybooks], and the related reports [VAT to turnover reconciliation and Reconcile VAT log to daybooks] will not be of any use, because no transactions will be returned.
The report is sequenced by expense code and it tests the daybook number of all qualifying transactions to see whether it is higher or lower than a maximum and minimum daybook number that is being maintained, in order to report these values to you. On change of valid expense codes, it displays a sub-total showing the expense code concerned together with its description, the lowest or minimum daybook number for the period, the highest or maximum daybook number for the period, and the number of transactions on the daybooks in between these two values.
This information can then be used to assist in any VAT reconciliation at the time of submission or audit and used in the next report, VAT to turnover reconciliation.
To find a daybook range for VAT turnover:
From the Autoline master menu select the Nominal Ledger option and the company you require.
Select the VAT options option.
Select the Find daybook range for VAT T/O option.
The Find daybook range for VAT T/O form is displayed
Starting date: Enter the starting date for the search. Use the
button to aid the search.
Ending date: Enter the ending date for the search. Use the
button to aid the search.
BUTTONS
OK: Produces a report immediately. A printer must be available and on line.
Cancel: Returns to the NL VAT menu.
Help: Displays help on the current application in your default company browser.
Done: Returns you to the NL VAT menu.
Note: The Done button is only available to you after you have run the report.
