Extra column in Aged Debtor/Creditor reports to show VAT included in balances to help reconcile VAT cash control

Idea suggested by Paul Scholes 8 years ago

For those on VAT cash accounting, the balance on the VAT cash control should equate to the VAT included in unpaid invoices less the VAT included in unpaid bills.

At the moment, to do this, I have to sit down with a bit of paper each quarter and manually calculate the VAT on every unpaid invoice and bill to make sure it equates to the balance on the VAT cash control.

So it would really help to see the VAT element listed in aged balance reports, then all I need do is take one total from another leaving me more time to find out why the figures don't reconcile.

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2 Replies

Hi John - that's useful in that it shows the VAT next to each approved (unpaid) invoice but the status (paid/approved) and the balance unpaid, if partly paid, are today's and not the date range I pick.

In other words, when I'm doing my, or my clients, VAT return 3-4 weeks after the quarter end and export the sales ledger up to the quarter end any invoiced paid since the quarter end are now "paid" and if part paid since the quarter end the unpaid balance on the CSV, that I'd use to work out how much of the invoice's VAT is still in the cash control, is incorrect.

8 years ago

Hi Paul,

Could you not export the sales/purchase ledger and filter by approved?

8 years ago

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