This report provides a summary of VAT charged on invoices, purchases (not necessarily collected or paid), cheques and deposits within a date range, sorted by VAT code.
Note: The line below "Total," labelled "Less EC Purchase VAT" will only affect your reports if you are involved in intra-EC trade. If you are involved in intra-EC trade, see Using Accounting Plus for Intra-EC Trade, which describes the effect of this line.
More Details about the VAT (Summary ) Report
Code | Description | Rate | Output Value | Input Value | VAT Collected | VAT Paid |
__________________________________________________________________________________________ | ||||||
X | Exempt | 0.000% | £32,000.00 | £25,227.95 | ||
A | 5% Taxable | 5.000% | £23,708.50 | £1,185.43 | ___________ | |
Total: | £1,185.43 | £0.00 |