Reconciling your VAT Return is really important to ensure the values you submit to HMRC are correct. To help you reconcile these values when you calculate the VAT Return you can run extra automated checks on your data by selecting these options. These checks help to ensure your VAT Return is correct before you submit the values to HMRC. Once you calculate the VAT Return you can view the results of these checks and then make amendments as required.
| Identify possible duplicate transactions |
Checks for transactions with a matching account reference, date, reference, nominal code, net value, tax code and VAT value. Find out more |
| Identify Invoices or Credits which have not been updated |
Checks for all invoices and credits which you've created through Invoicing but haven't been updated yet. Find out more |
| Identify Purchase Orders which have been delivered but not invoiced |
Select this to check for purchase orders which are in the Purchase Order Processing window but haven't been updated yet. Find out more |
| Identify transactions with a VAT value where the Tax Code is not included on the VAT Return |
This checks for transactions which have a Tax Code which is not included on the VAT Return therefore the values on the transaction are not included. Find out more |
| Check VAT values on transactions for possible errors |
Select this option to check for transactions where the VAT value is more or less than you expect it to be. The transactions that appear depend on which percentages you enter. For example, you may use a settlement discount which means the VAT value is reduced on the transaction by the discount percentage. Find out more |
| Identify sales and purchase transactions not using your most common Tax Code |
Checks for sales and purchase transactions that don't use your most common tax code, that you chose from the Tax Code drop-down list. Find out more |
| Identify journal transactions where the Tax Code is not selected as non-vatable |
This checks what your non-vatable Tax Code is in Settings > Company Preferences > VAT and identifies all journals that don't use this Tax Code. Find out more |
| Identify possible incorrect EC transactions |
Select this to check for transactions using an EC tax code where the customer or supplier record doesn't have all the correct EC information. For example, the customer record may not have a VAT registration number. Find out more Note: If these transactions are incorrect this may also affect your EC Sales List. |
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