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Overview of VAT

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Finance ➔ VAT ➔ Statistics ➔ VAT overview

Introduction

Value-Added Tax (VAT) is a consumption tax and is payable by the consumer at every stage of production. This includes the stages from raw material to end products. VAT is calculated based on the increased value that is added to the product. This tax is measured based on the difference between the price of the consumer products before taxes and its production cost.  

Fields

You can view the overview with only VAT lines but without the invoice amounts. In order to view how the VAT returns have been assigned, paid and filed, you can group the overview by VAT box, VAT code, VAT box/VAT Code, GL Account, or Return period/VAT box. You can also see in a glance of which VAT codes have not yet linked to VAT boxes and which have been wrongly linked.

The overview also allows you to filter the VAT type that you want to display. To search for VAT, you can define one or more of the following criteria and click Display. The VATs that match the search criteria you have entered are then displayed.

Range section

Date/Reporting date/Fulfilment date

Select the required option to display VAT based on the entry date, reporting date, or fulfilment date.

Date/Reporting date/Fulfilment date

Type or select the required date, reporting date, or fulfilment date or range of dates, reporting dates, or fulfilment dates to display VAT according to the selected dates. Alternatively, select the All check box for all dates, reporting dates, or fulfilment dates.  

Note: Date/Reporting date/Fulfilment date is available only when you select the corresponding options above.

Cost centre

Type or select the required cost centre or range of cost centre to be displayed in the overview. Alternatively, select the All check box to view all cost centres.

Method

This displays the VAT type you have selected at General ledger settings under the VAT section. If you have selected the Flexible VAT system check box in the settings, Method will display Flexible VAT system. Meanwhile, if the VAT type in General ledger settings has been defined as Invoice system or Cash system, the corresponding VAT type will also be displayed at Method. For more information, see General ledger settings.

VAT return

Select the required VAT return type. The available options are: 

  • All – This displays all VAT lines.
  • Assigned – This displays all VAT lines that have return periods assigned, but have not been filed on a final return.
  • Final – This displays all VAT lines that have been matched to a final return entry.
  • No – This displays all VAT lines that do not have any return period assigned. 

Return period

Type or select a VAT return period for which you have assigned earlier.

Note: It is available only if you have selected Assigned or Final at VAT return.

Buttons

Display

Click this to display the overview of VAT according to your defined criteria. You can also print the overview. For more information, see Displaying VAT overview.

Close

Click this to exit.

Related documents

     
 Main Category: Attachments & notes  Document Type: Online help main
 Category:  Security  level: All - 0
 Sub category:  Document ID: 12.245.560
 Assortment:  Date: 26-09-2022
 Release: 390  Attachment:
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