Embedded Files
Overview
Overview
The VAT Reconciliation module allows users to link transactions to 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 is displayed if the Reconciliation dates overlap.
Each VAT Reconciliation calculates the VAT due for the selected period and blocks the included transactions from being changed.
Table of Contents
Settings
Settings
General Settings
General Settings
Navigation: Main Menu > Setup > Settings > General (tab)
Accounting > Default: VAT Type (Forex/Exempt): Select the VAT Type created for Exempt supplies from the dropdown list of VAT Types.
Accounting > Default: VAT Type (Standard): Select the VAT Type created for Standard supplies from the dropdown list of VAT Types.
Accounting > Exclude Transaction IDs from VAT Reconciliation (e.g. <> 2, not in (1,2,3)): Use this setting to exclude the periodic VAT Payments or Refunds from the VAT reconciliations.
Accounting > VAT Reporting Frequency (Months): Type the number of months in the Value column. This information is used for the VAT Reconciliations.
User Settings
User Settings
Navigation: Main Menu > Setup > Settings > User (tab)
Accounting > VAT Reconciliation - Access Allowed: The options are:
None: No access is allowed.
User: The user may prepare or view the reconciliation.
Administrator: May delete, edit, and change the Statuses of VAT reconciliations.
List View
List View
ℹ️ The List View displays a summary of all the VAT Reconciliations for the selected period.
Navigation Example: Main Menu > Accounting > VAT Reconciliation
Buttons Explained
Buttons Explained
View: Creates a list of VAT Reconciliations based on the selected filters.
New: Creates a new VAT Reconciliation.
Output: Outputs PDF documents if templates are added. Options include Print, Preview & Email.
Menu:
Reset Data Filters: Resets the filters to their defaults.
Email Excel: Exports the grid display in Excel format.
Save
Save (All Users)
Restore Default (All Users)
Filters Explained
Filters Explained
Set: Sets a specific period such as Today, This Month, This Year, Fin Year.
← →: Adjusts the date forwards or backwards.
Date: Allows users to further refine the dates.
Status: Displays only reconciliations that match the selected status.
Fields Explained
Fields Explained
Field Chooser (*): Allows users to add or remove columns.
ID: The system-generated number for the reconciliation.
Status: The status of the reconciliation.
From: The Start Date of the reconciliation.
To: The End Date of the reconciliation.
Out of Period: The amount included in the reconciliation for transactions that have dates that do not fall within the applicable VAT reconciliation period.
Output: The final Output amount that must be declared.
Input: The final Input amount that must be declared.
Balance: The final VAT amount that must be paid or refunded.
Note: A preview of any notes linked to the reconciliation.
Menu (...): Submenu to either Edit or Delete the reconciliation.
Edit View
Edit View
ℹ️ The Edit View is used to include or exclude transactions from the VAT Reconciliation.
Navigation: Main Menu > Accounting > VAT Reconciliation > Double-click to open a reconciliation
Buttons Explained
Buttons Explained
↑ ↓: Scrolls through the reconciliations.
Output: Outputs PDF Templates (e.g. VAT Summary). Options include Print, Preview and Email.
New: Create a new reconciliation.
Delete: Deletes the reconciliation.
Save: Saves information and/or refreshes.
Done: Sets the reconciliation to a Complete Status and displays a summary that is required for the VAT return.
Menu:
Email Excel - Exports the grid in Excel format.
Save
Save (All Users)
Restore Default Layout (All Users)
Refresh: Updates the transactions.
Add: Adds the selected transactions to the Included section.
Remove: Removes the selected transactions from the Included section.
Fields Explained: Period Dates
Fields Explained: Period Dates
From: The Start Date of the reconciliation.
To: The End Date of the reconciliation.
Fields Explained: Out of Period
Fields Explained: Out of Period
Output: The value of Output for out-of-period transactions included in the reconciliation.
Input: The value of Input for out-of-period transactions included in the reconciliation.
Balance: The net effect of out-of-period transactions (Output less Input).
Fields Explained - Total
Fields Explained - Total
Output: The Output that must be declared on the VAT Return.
Input: The Input that may be claimed on the VAT Return.
Balance Due: The final VAT amount that must be paid or claimed back. (Output minus Input).
Filters Explained: Outstanding Transactions
Filters Explained: Outstanding Transactions
Show Zero-VAT: Includes transactions on which VAT Types were used that resulted in zero VAT.
Show Out-of-period: Includes transactions that match the dates, but not the period of the VAT reconciliation.
Fields Explained: Outstanding Transactions
Fields Explained: Outstanding Transactions
Field Chooser (*): Allows users to add or remove columns.
TransID: The system-generated number that is allocated to the transaction.
Status: The Header Status of the transaction.
Trans: Indicates what the Transaction Type (Transaction) is.
No.: The Transaction Number that is automatically assigned to each transaction in sequential order.
Period: The Period that was selected on the transaction.
Company: The Customer or Supplier selected on the transaction.
Reference: The reference captured on the transaction.
Total (Exc): The VAT exclusive transaction amount.
VAT: The VAT amount on the transaction.
Total (Inc): The VAT inclusive transaction amount.
Fields Explained - Included Transactions
Fields Explained - Included Transactions
TRIALITEM: The system-generated number for the transaction in the ledger.
TransID: The system-generated number for the transaction.
Status: The Header Status of the transaction.
Type: The type of VAT in terms of Input or Output.
Trans: A code identifying the Transaction Type.
No.: The Transaction Number that is automatically assigned to each transaction in sequential order.
Period: The Period that was selected on the transaction.
Item: The Item Number that is automatically assigned to transactions with multiple items.
Dr Account: The ledger account that was debited.
Cr Account: The ledger account that was credited.
Reference: The reference captured on the transaction.
Description: The Item Description as per transaction.
Output: The Output Amount per Item.
Input: The Input Amount per Item.
VAT Type: The VAT Type selected per Item.
Total (Exc): The total VAT Exclusive amount.
VAT: The Total VAT Amount on the Item.
Total (Inc): The total VAT Inclusive amount.
Dr Acc No.: The account number (code) for the account debited on the transaction.
Cr Acc No.: The account number (code) for the account credited on the transaction.
VAT No.: The Customer or Supplier's VAT registration number.
Trans Date: The transaction's date.
Fields Explained: Transaction Types Summary
Fields Explained: Transaction Types Summary
Transaction Types: Lists the Transaction Types that were included in the reconciliation.
Output: The total Output VAT per transaction type.
Input: The total Input VAT per transaction type.
Fields Explained: VAT Types Summary
Fields Explained: VAT Types Summary
VAT Type: Specifies the VAT Types that were included in the reconciliation.
Output: The Total Output VAT per VAT Type.
Input: The Total Input VAT per 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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