VAT Returns to Ledger
Agree each VAT or sales tax return to the ledger for the same period.
- Ledger + VAT or sales tax returns
- Key analysis in Tax
How the result is read
What the entity declared is what the authority will assess; what the ledger recorded is what the transactions carried. Each return is read against the output and input accounts for its own period, by posting date. The return’s clearing entry — output and input closed to the settlement account — and the payment to the authority are set aside, or every period would net to nothing. A month with VAT in the ledger and no return covering it is a return not filed; the last month of the year is usually filed after the year end and is said to be so.
In the application
VAT Returns to Ledger is filed under Tax, index letter I. "Run all analyses" runs it with every other analysis the ledger and the documents loaded can answer. The worksheet states the population it tested on its face — or "Not applicable" with the reason when a column it depends on is empty — and the Excel workbook the engagement exports files it under I, beside an index of the source files with their SHA-256 fingerprints.
Read it with
Run your next audit file test without the Excel crash.
One free engagement to evaluate, valid 60 days. The ledger never leaves the machine.
- 20 minutes
- Runs on a fictional engagement
- No client data required