Embedded Files
Overview
Overview
The VAT Reconciliation module allows you to link transactions to your VAT Reconciliations including transactions that are Out of Period. The list view can be filtered by Date (the default date filter is Fin Year), Entity and Status.
A red warning bar will warn you when your Reconciliation dates overlap with the dates on another Reconciliation.
Each VAT Reconciliation works independently and doesn't directly update your Accounting, it simply calculates the VAT that is due.
Transactions that meet the following criteria can be added to the VAT Recon.
Transaction Type is set to update VAT
Transaction Status is in an Accounting Status
Transaction Type is not excluded in the General Setting below.
The following options are available to filter the Outstanding Transactions:
Show: Zero-VAT - Displays zero-rated VAT transactions except for No VAT Transactions.
Show: Out-of-period - Displays transactions that are dated before the Start Date.
Table of Contents
Settings
Settings
General Settings
General Settings
Navigation: Main Menu > Setup > Settings > General (tab).
Accounting > Default: VAT Type (Forex/Exempt) - Default = Exempt.
Accounting > Default: VAT Type (Standard) - Default = Standard.
Accounting > VAT % - Default = 15. Selects the Standard VAT Percentage.
Accounting > VAT Reporting Frequency (Months) - Default = 2. Used for Period selection when creating a VAT Recon transaction.
Accounting > Exclude Transaction ID''s from VAT Reconciliation (eg. '<> 2', 'not in (1,2,3)') - Use this setting to exclude VAT Payments from the VAT Recon, or to include other Transactions.
User Settings
User Settings
Navigation: Main Menu > Setup > Settings > User (tab).
Accounting > VAT Reconciliation - Access Allowed (None, User, Administrator) - Administrator rights are required to delete or change a Complete reconciliation back to Pending.
List View
List View
The List View displays multiple VAT Reconciliations in a summarised format for easy browsing.
Navigation: Main Menu > Accounting > VAT Reconciliation.
Buttons Explained
Buttons Explained
View - Populates the data in the list view according to the Data Filters selected.
New - Creates a new VAT Reconciliation.
Output - Output PDF documents. Options include Print, Preview & Email.
Menu > Reset Data Filters - Resets the Data Filters to default.
Menu > Email Excel - Exports the grid in Excel format.
Menu > Save - Saves the updated grid view to your username only. Once saved, the grid view will stay as is when you log in next.
Menu > Save (All Users) - Save the updated grid view for all users. Once saved, the grid view will stay as is for all users when they log in next.
Menu > Restore Default (All Users) - Restores the default layout of the grid view.
Data Filters Explained
Data Filters Explained
Set - Sets a specific time frame such as Today, This Month, This Year, Fin Year etc.
← → - Back/forward Arrows toggle backwards or forward depending on the Set Date.
Date - Filters the data according to a Start and End Date Interval.
Status - Dropdown list for searching for transactions according to a Pending or Complete Status.
Fields Explained
Fields Explained
ID - An ID is automatically assigned to each transaction in sequential order.
Status - The Status of the VAT Reconciliation.
From - The Start Date of the VAT Reconciliation.
To - The End Date of the VAT Reconciliation.
Out of Period - The Amount of Transactions that are Out-of-Period and included in the VAT Reconciliation.
Output - The Output Amount that is included in the VAT Reconciliation.
Input - The Input Amount that is included in the VAT Reconciliation.
Balance - The VAT Amount Due.
Note - A preview of the Notes linked to the Transaction.
... - Submenu to either Edit or Delete the Transaction.
Edit View
Edit View
The Edit View allows transactions to be included or excluded from the VAT Reconciliation.
Navigation: Main Menu > Accounting > VAT Reconciliation > Double-click to open a Reconciliation.
Buttons Explained
Buttons Explained
↑ ↓ - Use the arrows to scroll through transactions
Output - Output PDF Templates (e.g. VAT Summary). Options include Print, Preview and Email.
New - Create a new VAT Reconciliation.
Delete - Deletes the VAT Reconciliation.
Save - Saves information and/or refreshes.
Done - Sets the VAT Reconciliation to a Complete Status. Once Complete, the Summary grid views appear.
Menu > Email Excel - Exports the grid in Excel format.
Menu > Save - Saves the updated grid view to your username only. Once saved, the grid view will stay as is when you log in next.
Menu > Save (All Users) - Save the updated grid view for all users. Once saved, the grid view will stay as is for all users when they log in next.
Menu > Restore Default Layout (All Users) - Restores the default layout of the grid view.
Refresh - Refreshes the Edit View.
Add - Adds a Transaction to the Included section.
Remove - Removes a Transaction from the Included section.
Fields Explained - Period Dates
Fields Explained - Period Dates
From - The Start Date of the VAT Reconciliation.
To - The End Date of the VAT Reconciliation.
Fields Explained - Out of Period
Fields Explained - Out of Period
Output - The Output Amount of Out-of-Period Transactions included in the VAT Reconciliation.
Input - The Input Amount of Out-Of-Period Transactions included in the VAT Reconciliation.
Balance - Out of Period Transactions' total Output minus Input.
Fields Explained - Total
Fields Explained - Total
Output - The Total Output Amount that is included in the VAT Reconciliation.
Input - The Total Input Amount of the Item that is included in the VAT Reconciliation.
Balance Due - The VAT Amount due (Output minus Input)
Fields Explained - Outstanding Transactions
Fields Explained - Outstanding Transactions
Show - Zero-VAT - Includes transactions with VAT Type = Zero VAT in the specified Transaction Period that have not been included in a VAT Reconciliation.
Show Out-of-period - Includes transactions out of the specified Transaction Period that have not been included in a VAT Reconciliation.
TransID - Refers to the Transaction ID that is automatically assigned to each transaction in sequential order.
Status - The Header Status of the Transaction.
Ledger ID - Refers to the Ledger ID that is automatically assigned to each transaction in sequential order.
Trans - Indicates what the Transaction Type (Transaction) is.
No. - Refers to the Transaction Number that is automatically assigned to each transaction in sequential order.
Period - The Period Date that was selected on the Transaction.
Company - The Customer or Supplier Name selected on the Transaction.
Reference - The Reference captured on the Transaction.
Total (Exc) - The Total Amount on the Transaction, excluding VAT.
VAT - The Total VAT Amount from the Transaction.
Total (Inc) - The Total Amount on the Transaction, including VAT.
Fields Explained - Included Transactions
Fields Explained - Included Transactions
TRIALITEM - System-generated number for the transaction.
TransID - Refers to the Transaction ID that is automatically assigned to each transaction in sequential order.
Status - The Header Status of the Transaction.
Type - Indicates whether the Item is Input or Output VAT.
Trans - Indicates what the Source Transaction Type (Transaction) is.
No. - Refers to the Transaction Number that is automatically assigned to each transaction in sequential order.
Period - The Period Date that was selected on the Transaction.
Item - The Item number that is automatically assigned to transactions with multiple items.
Trans Date - The Transaction Date that was selected on the Transaction. Transaction Dates are automatically set to today's date when created.
Dr Account - The Debit Account selected on the Item within the Transaction.
Dr Acc No. - The Debit Account Code selected on the Item within the Transaction.
Cr Account - The Credit Account selected on the Item within the Transaction.
Cr Acc No. - The Credit Account Code selected on the Item within the Transaction.
Reference - The Reference captured on the Transaction.
Description - The Item Description as per Transaction.
VAT No. - The customer or supplier's VAT registration number..
VAT Type - The VAT Type selected per Item.
Output - The Output Amount per Item.
Input - The Input Amount per Item.
Total (Exc) - The Total Amount on the Item, excluding VAT.
VAT - The Total VAT Amount on the Item.
Total (Inc) - The Total Amount on the Item, including VAT.
Fields Explained - Summary - Transaction Types Grid View
Fields Explained - Summary - Transaction Types Grid View
Transaction Types - Specifies the Transaction Types that were included in the VAT Reconciliation.
Output - The Total Output VAT by Transaction Type.
Input - The Total Input VAT by Transaction Type.
Fields Explained - Summary - VAT Types Grid View
Fields Explained - Summary - VAT Types Grid View
VAT Type - Specifies the VAT Types that were included in the VAT Reconciliation.
Output - The Total Output VAT by VAT Type.
Input - The Total Input VAT by VAT Type.
Output Templates
Output Templates
The following data pipelines are available:
VAT_Filter - Exposes the Date, Branch and Status filter
VAT_Header - The VAT Recon header fields
VAT_Transactions - The Transactions included in the VAT Recon
Related Topics
Related Topics
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