The VAT Report shows the amount of Value Added Tax (VAT) paid or collected by the company during a specified period. This report is useful for tracking VAT liabilities and for filing VAT returns.
Suppose your company is registered for VAT, and you need to file your VAT returns. To do so, you must know how much VAT your company has collected and paid during the specified period. You can use the VAT Report to summarize all VAT paid and collected for the period. This report can be used to prepare and file the necessary VAT returns.
- Go to Reports>Accounting>VAT
- Select the desired period Month & Year.
- Click “Apply” and wait for the report to load.
- The report will display the total amount of VAT paid or collected during the specified period.
- Download the report as needed.