The VAT Return component shows you exactly what you need to fill in your VAT return. Every transaction entry you make that has VAT associated with it, will be entered into this component.
The component is divided horizontally into two panels:
VAT Totals (Top) panel
Transactions (Bottom) panel
The top panel automatically displays the VAT totals for the period selected.
These figures can either be submitted directly to HMRC from the software, or copied manually into your VAT return form.
The bottom panel comprises two tabs:
These tabs show the sales and purchases transactions, respectively, that make up the VAT Return.
Please note - the screenshot reflects the U.K. VAT Return. This will change dependent on the country selected in the Set-up Company Wizard. VAT component not available in the Startup Kit.