Reports
VAT Report
The Vat Report will calculate the figures to use on your VAT return.
Before you create your first VAT Report, ensure that the organisation's VAT status is correct.
To view an organisation's previous VAT Reports, navigate to the Reports tab and then click the VAT Report link. All saved VAT reports will be listed. View these in more detail by clicking on the View Report link.
It is worth noting that the underlying transactions on a saved VAT Report can only be changed if the changes don't effect the VAT results. In order to make changes to these transactions you may need to delete the VAT report.
More information on creating VAT Reports can be found in the following help pages:
- VAT for organisations registered in the United Kingdom (UK)
- VAT/GST for organisations registered in all other countries
VAT UK Organisations
This help page is only applicable if you are registered for VAT in the UK and your organisation country is set to 'United Kingdom'. For VAT Reporting in other countries, please go to VAT International Orgs.
Before you create your first VAT Report, ensure that the organisation's VAT status is correct.
Navigate to the Reports tab and then click the VAT Report link.
Click on the New VAT Report button.
Set the appropriate Start date and End date. Note that you cannot enter a date earlier than the Conversion Date.
Click on the Refresh button.
Click the View Underlying Transactions button to analyse the detail behind the figures.
Click the Save button to complete the report and save it for future reference - an option to print the report will appear.
It is worth noting that the underlying transactions on a saved VAT Report can only be changed if the changes don't effect the VAT results. In order to make changes to these transactions you may need to delete the VAT report.
Important Note: You must ensure that there is no change in the organisation's VAT status (for example, from standard rate VAT to flat rate VAT, or from the cash to accrual accounting basis) during the VAT reporting period. Any change in VAT status MUST be effected at the start of a VAT period. See the section on Adding a VAT status for more information.
VAT UK - Box by Box
If you have the time, we recommend you visit the HMRC website to find out more about VAT reporting requirements for international trade as these can be quite complex and will depend on the nature of your business as well as the nature of your Customer/Supplier (are they individuals or VAT registered entities?). Our recommended approach is that you first determine your requirements and then review them against our table below to get clarity on how your transactions should be entered.
The table below explains how your UK VAT Report is compiled and which Box is updated for each combination of VAT Treatment and VAT Type.
- VAT Treatment: This is specified when transactions are entered. Users should take particular care to select the correct option when entering Receive Money and Spend money transactions which are related to returns/refunds. For example if you are entering a General Receipt transaction to reflect a refund by a Supplier, then you should change the default from Goods or Services to UK Customer to Goods or Services from UK Supplier. If you don't make the change, the system interprets the VAT as a Sale/Income (Output VAT) and may report this incorrectly. The same concept holds true for returns/refunds you provide your own Customers via a General Payment transaction.
- VAT Type: The VAT Code used in transactions has an underlying VAT Type. These can be reviewed by checking your organisation's Tax Rates settings.
- Invalid: This indicates that the combination is not allowed during transaction entry.
- ESL: Indicates whether the combination will be picked up by the EC Sales List.
- Standard VAT: The Box filled on the VAT Return for UK organisation's using Standard VAT as set in Tax Status.
- Flat Rate VAT: The Box filled on the VAT Return for UK organisation's using Flat Rate VAT as set in Tax Status.
- Cash Basis Special Rule: This impacts UK organisation's which report VAT under the Cash Basis (when payment is made rather than invoices issued). For these combinations, Invoices and Credit Notes will appear on the VAT Return based on the Invoice or Credit Note transaction date regardless of whether they have been paid or not.
AccountsPortal is fully compliant with processing Reverse Charge and Acquistion Tax transactions. These are entered with the following combinations:
Reverse Charge
VAT Treatment = 23 - Services from EU Supplier and VAT Type = No VAT
VAT Treatment = 25 - Services from Supplier outside EU and VAT Type = No VAT
Acquisition Tax (like Reverse Charge but for purchase of Goods from EU)
VAT Treatment = 22 - Goods from EU Supplier and VAT Type = No VAT
|
Id |
VAT Treatment | VAT Type | Invalid | ESL | Standard VAT |
Flat Rate VAT |
Cash Basis Special Rule |
| SALES RELATED | |||||||
| 1 | Goods or Services to UK Customer | Sales | 1, 6 | 1, 6 | |||
| 1 | Goods or Services to UK Customer | Exempt Sales | 6 | 1, 6 | |||
| 1 | Goods or Services to UK Customer | Zero-Rated Sales | 6 | 1, 6 | |||
| 1 | Goods or Services to UK Customer | No VAT | - | - | |||
| 2 | Goods to EU Customer | Sales | 1, 6 | 1, 6 | |||
| 2 | Goods to EU Customer | Exempt Sales | X | 6, 8 | 1, 6, 8 | X | |
| 2 | Goods to EU Customer | Zero-Rated Sales | X | 6, 8 | 1, 6, 8 | X | |
| 2 | Goods to EU Customer | No VAT | X | 6, 8 | 1, 6, 8 | X | |
| 3 | Services to EU Customer | Sales | 1, 6 | 1, 6 | |||
| 3 | Services to EU Customer | Exempt Sales | X | 6 | - | ||
| 3 | Services to EU Customer | Zero-Rated Sales | X | 6 | - | ||
| 3 | Services to EU Customer | No VAT | X | 6 | - | ||
| 4 | Goods to Customer outside EU | Sales | X | - | - | ||
| 4 | Goods to Customer outside EU | Exempt Sales | 6 | 1, 6 | |||
| 4 | Goods to Customer outside EU | Zero-Rated Sales | 6 | 1, 6 | |||
| 4 | Goods to Customer outside EU | No VAT | 6 | 1, 6 | |||
| 5 | Services to Customer outside EU | Sales | 1, 6 | 1, 6 | |||
| 5 | Services to Customer outside EU | Exempt Sales | 6 | - | |||
| 5 | Services to Customer outside EU | Zero-Rated Sales | 6 | - | |||
| 5 | Services to Customer outside EU | No VAT | 6 | - | |||
| 99 | No VAT / Out of Scope | Sales | X | - | - | ||
| 99 | No VAT / Out of Scope | Exempt Sales | X | - | - | ||
| 99 | No VAT / Out of Scope | Zero-Rated Sales | X | - | - | ||
| 99 | No VAT / Out of Scope | No VAT | - | - | |||
| PURCHASE RELATED | |||||||
| 21 | Goods or Services from UK Supplier | Purchases | 4, 7 | - | |||
| 21 | Goods or Services from UK Supplier | Exempt Purchases | 7 | - | |||
| 21 | Goods or Services from UK Supplier | Zero-Rated Purchases | 7 | - | |||
| 21 | Goods or Services from UK Supplier | No VAT | - | - | |||
| 22 | Goods from EU Supplier | Purchases | X | - | |||
| 22 | Goods from EU Supplier | Exempt Purchases | 7, 9 | 7, 9 | X | ||
| 22 | Goods from EU Supplier | Zero-Rated Purchases | 7, 9 | 7, 9 | X | ||
| 22 | Goods from EU Supplier | No VAT | 2, 4, 7, 9 | 2, 7, 9 | X | ||
| 23 | Services from EU Supplier | Purchases | X | - | - | ||
| 23 | Services from EU Supplier | Exempt Purchases | 7 | - | |||
| 23 | Services from EU Supplier | Zero-Rated Purchases | 7 | - | |||
| 23 | Services from EU Supplier | No VAT | 1, 4, 6, 7 | 1, 4 | |||
| 24 | Goods from Supplier outside EU | Purchases | 4, 7 | - | |||
| 24 | Goods from Supplier outside EU | Exempt Purchases | 7 | - | |||
| 24 | Goods from Supplier outside EU | Zero-Rated Purchases | 7 | - | |||
| 24 | Goods from Supplier outside EU | No VAT | - | - | |||
| 25 | Services from Supplier outside EU | Purchases | X | - | - | ||
| 25 | Services from Supplier outside EU | Exempt Purchases | 7 | - | |||
| 25 | Services from Supplier outside EU | Zero-Rated Purchases | 7 | - | |||
| 25 | Services from Supplier outside EU | No VAT | 1, 4, 6, 7 | 1, 4 | |||
| 99 | No VAT / Out of Scope | Purchases | X | - | - | ||
| 99 | No VAT / Out of Scope | Exempt Purchases | X | - | - | ||
| 99 | No VAT / Out of Scope | Zero-Rated Purchases | X | - | - | ||
| 99 | No VAT / Out of Scope | No VAT | - | - |
VAT International Orgs
This help page is not applicable if you are registered for VAT in the UK and your organisation country is set to 'United Kingdom'. For UK VAT Reporting, please go to VAT UK Organisations.
Before you create your first VAT Report, ensure that the organisation's VAT status is correct.
Navigate to the Reports tab and then click the VAT Report link.
Click on the New VAT Report button.
Set the appropriate Start date and End date. Note that you cannot enter a date earlier than the Conversion Date.
Click on the Refresh button.
Click the View Underlying Transactions button to analyse the detail behind the figures.
Click the Save button to complete the report and save it for future reference - an option to print the report will appear.
It is worth noting that the underlying transactions on a saved VAT Report can only be changed if the changes don't effect the VAT results. In order to make changes to these transactions you may need to delete the VAT report.
Important Note: You must ensure that there is no change in the organisation's VAT status (for example, from standard rate VAT to flat rate VAT, or from the cash to accrual accounting basis) during the VAT reporting period. Any change in VAT status MUST be effected at the start of a VAT period. See the section on Adding a VAT status for more information.
EC Sales List
This help page is only applicable if you are registered for VAT in the UK and your oganisation country is set to 'United Kingdom'.
If you are uncertain whether you need to submit an ESL, then please go to the HMRC website which has detailed information on this topic. According to the HMRC:
'If you're a VAT-registered business in the UK that supplies goods and certain services to a VAT-registered customer in another European Union (EU) country, you'll have to tell HM Revenue & Customs (HMRC) about the supplies.
You need to complete an EC Sales List (ESL) showing details of each of your customers in the EU and the value (in sterling) of the supplies you've made to them in the period. If you haven't made any supplies (or issued any credit notes) you don't need to submit an ESL.'
Navigate to the Reports tab and click the EC Sales List link.
Set the appropriate Start and End dates and click the Refresh button.
The EC Sales List only picks up transactions with the following VAT settings:
| VAT Treatment | VAT Type |
| Goods to EU Customer | Exempt Sales Zero-Rated Sales No VAT |
| Services to Customer | Exempt Sales Zero-Rated Sales No VAT |
You can choose whether to display the results grouped by customer or grouped by transaction. The default display is by customer as this is the level of detail required by the HMRC when submitting the EC Sales List. If you switch between the displays, you will need to click the Refresh button again.
Group by Customer
If you have made sales to the same customer for both Goods (0) and Services (3), you will see two lines on the report for the customer.
The fields displayed above provide the information required for submitting your periodic EC Sales List:
- Customer: The name of the customer.
- Indicator: The type of sale made. This value is determined by the VAT Treatment used in the transaction.
- Customer Country: The value here is taken from the customer record (see below for more info).
- Customer VAT No: The VAT number set in the customer record.
- Amount: The total amount of the sales (supplies) made to the customer
Errors will be displayed above the report and should be corrected prior to submitting your results to the HMRC. In the example above, the Customer record needs to be updated to include the EU VAT Country.
Click the Export button to generate a CSV file which is correctly formatted for importing into HMRC Online Services.
Group by Transaction
This view is particularly useful for analysing the individual transaction on the list. Click on the Trans ID link to view details of any transaction.
| 3 - Exempt Sales |
| 5 - Zero-Rated Sales |
| 7 - No VAT |
Profit and Loss
The Profit and Loss report is an indication of an Organisation's financial performance over a period of time.
View the Profit and Loss report
To view the Profit and Loss report, navigate to the Reports tab, and then click the Profit and Loss link on the left hand side of the page.
Report parameters
- Start Date: Select any date.
- End Date: Select any date greater than the Start Date.
- Display Options:
- Default: Standard display for the report.
- By Month: If this option is selected, then the report will display the information on a month-by-month basis. Note that data may be shown for partial months; for example, if the specified start date is 15-01-2009, then the Jan-2009 column will only reflect transactions with a date between (and including) 15-01-2009 and 31-01-2009. The same principle applies to the End Date. Some care should also be taken with choosing very large date ranges with the Show Monthly option selected, as you may have to scroll to the right to view all the information.
- By Category: The amounts for the report are displayed by Category for the date range selected.
Once the parameters have been chosen, click the Refresh button.
The current report can be exported at any time by clicking the Export Button.
Notes
This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.
Balance Sheet
The Balance Sheet report is a summary or snapshot of an Organisation's financial position at a point in time.
View the Balance Sheet
To view the Balance Sheet report, navigate to the Reports tab, and then click the Balance Sheet link on the left hand side of the page.
Report parameters
- End Date: The point in time at which the report will be run.
Once the parameters have been chosen, click the Refresh button.
The current report can be exported at any time by clicking the Export Button.
Notes
This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.
All reports in Accountsportal are created in real time and there is no need to process any end-of-year journals. This means that Retained Earnings will be automatically calculated for prior financial years, and the Profit and Loss reflected in the Balance Sheet will therefore always pertain to the current financial year only. Accordingly, it is critical that the correct financial year-end has been specified in the Organisations's settings.
Trial Balance
The Trial Balance report is a summary of all accounts for the Organisation at a point in time. Totals Debits should always equal Total Credits. Drill-down to individual line items for each account by clicking on the amount. This is an easy way to check and verify the underlying transactions of each account balance .
View the Trial Balance
To view the Trial Balance report, navigate to the Reports tab, and then click the Trial Balance link on the left hand side of the page.
Report parameters
- End Date: The point in time at which the report will be run.
Once the parameters have been chosen, click the Refresh button.
The year-to-date transaction history of all the accounts in the Trial Balance can be exported in spreadsheet format by clicking the Export Nominal Ledger button.
The current report can be exported at any time by clicking the Export Button.
Notes
This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.
All reports in Accountsportal are created in real time and there is no need to process any end-of-year journals. This means that Retained Earnings will be automatically calculated for prior financial years, and the Profit and Loss reflected in the Trial Balance will therefore always pertain to the current financial year only. Accordingly, it is critical that the correct financial year-end has been specified in the Organisations's settings.
Period Balance
The Period Balance report reflects the movement in all accounts between two dates. The total Period Debits should always equal the total Period Credits, and the total Period Change should therefore always be equal to zero.
View the Period Balance report
To view the Period Balance report, navigate to the Reports tab, and then click the Period Balance link on the left hand side of the page.
Report parameters
- Start: The start date of the report.
- End: The end date of the report.
- Find Matching: This is a real-time text filter to quickly refine the displayed information. For example, you could display only those accounts where part of the account name contains "current" or you could display only those accounts where the Account Type contains "expenses".
Once the parameters have been chosen, click the Refresh button.
The current report can be exported at any time by clicking the Export Button.
Notes
This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.
All reports in Accountsportal are created in real time and there is no need to process any end-of-year journals. This means that Retained Earnings will be automatically calculated for prior financial years, and the Profit and Loss reflected in the Period Balance report will therefore always pertain to the current financial year only. Accordingly, it is critical that the correct financial year-end has been specified in the Organisations's settings.
Transaction Line Items
The Transaction Line Item report reflects the detailed postings in all accounts between two dates.
View the Transaction Line Item report
To view the Transaction Line Item report, navigate to the Reports tab, and then click the Transaction Line Item link on the left hand side of the page.
Report parameters
- Start: The start date of the report.
- End: The end date of the report.
- Filter by Customer/Supplier: Click this button and follow the instructions to filter by one or multiple customer/suppliers.
- Filter by Account: Click this button and follow the instructions to filter by one or multiple accounts.
- Show all fields: By default, this report only shows the most pertinent information for each line item. Selecting this option will displays all details for each line item. Note that due to the large number of fields, you may have to scroll to the right to view all the fields.
Once the parameters have been chosen, click the Refresh button.
The current report can be exported at any time by clicking the Export Button.
Notes
This report will automatically exclude all transactions (with the exception of Conversion Balance transactions) entered before the Conversion Date. Refer to the section on Converting from Another Accounting System for more information.
Retained Earnings calculated automatically for prior financial years are not displayed in this report. With regards to Retained Earnings, this report only displays actual transactions entered.
Aged Receivables
The Aged Receivables report is a summary of all outstanding Sales Invoices (and Credit Notes, where applicable) for the Organisation at a point in time. The information is displayed in specific aged brackets in each column.
View the Aged Receivables report
To view the Aged Receivables report, navigate to the Reports tab, and then click the Aged Receivables link on the left hand side of the page.
Report parameters
- Date: The point in time at which the report will be run.
- Due Date / Transaction Date: Choose from the drop-down list to view the ageing by Transaction Date or Due Date.
Once the parameters have been chosen, click the Refresh button.
The current report can be exported at any time by clicking the Export Button.
The overall total should agree to the balance of the Accounts Receivable account on the date specified. It is good practise to check this periodically against any one of the Balance Sheet, Trial Balance or Period Balance reports for the same date.
Summary vs Detail view
By default, the Aged Receivables report displays information on an aggregated basis; i.e. the ageing for each Customer is shown as a total. It is also possible, however, to display the information in more detail, so that the ageing for each invoice or credit note is shown individually - this is achieved by clicking the Display Detail button. You can revert back to the Summary view at any time by clicking the Display Summary button.
Aged Payables
The Aged Payables report is a summary of all outstanding Purchases (and Purchase Credit Notes, where applicable) for the Organisation at a point in time. The information is displayed in specific aged brackets in each column.
View the Aged Payables report
To view the Aged Payables report, navigate to the Reports tab, and then click the Aged Payables link on the left hand side of the page.
Report parameters
- Date: The point in time at which the report will be run.
- Due Date / Transaction Date: Choose from the drop-down list to view the ageing by Transaction Date or Due Date.
Once the parameters have been chosen, click the Refresh button.
The current report can be exported at any time by clicking the Export Button.
The overall total should agree to the balance of the Accounts Payable account on the date specified. It is good practise to check this periodically against any one of the Balance Sheet, Trial Balance or Period Balance reports for the same date.
Summary vs Detail view
By default, the Aged Payables report displays information on an aggregated basis; i.e. the ageing for each Customer is shown as a total. It is also possible, however, to display the information in more detail, so that the ageing for each invoice or credit note is shown individually - this is achieved by clicking the Display Detail button. You can revert back to the Summary view at any time by clicking the Display Summary button.