The VAT report calculates and displays VAT balance for a certain period of time covered by the report.
The report fetches data from the VAT journal.
The report presents:
- The total net amount of sales for the period on which VAT is chargeable.
- VAT amount you charged on sales of goods or services (output VAT for the period) that you owe to the tax authorities.
- The total net amount you paid for goods or services purchased (excluding VAT).
- VAT amount charged on your business purchases (input VAT for the period) that you can reclaim.
Tax amounts and base net amounts are grouped by VAT rates at which VAT was charged on both sales and purchases for the period. Summarized amounts are presented in your system currency for each grouping and at the grand total level. If no data is available for certain groupings, nothing is displayed for them.
In the basic VAT report, VAT balances are grouped only by VAT rates. No sublevels are available in the default report.
To go to the VAT report
1. On the Codejig ERP Main menu, click the Reports tab.
2. Under the Reports tab, select the VAT report.
VAT Report: Header Area
VAT Report: Default Grouping
VAT Report: Default Summarizing