Financial -VAT Return

Overview

Surf Accounts provides all the relevant information in a methodical and structured manner to make it easy to understand. It has been designed in such a fashion so that it can be used by the large corporation, and small and medium enterprises and accountants. You can customise your reports for the individual business. With simple select options, you can preview them on the fly before emailing or saving a copy. The reports will be generated which can be viewed in an interactive way on a real-time basis.

Financial Report

The financial report will generate reports regarding VAT Report, Bank Reconciliation, Trial Balances, Profit and Loss and Balance Sheet, Account Details, Journal Listing, Yearly Budget Comparison, Periodic Budget Comparison and Budget Details. 

Generating the VAT Return Report

To generate the VAT Return report select Reports» Financial» Run VAT Return Report, the following screen will appear.

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Detail Illustration of the VAT Return Reports

Before generating the VAT Return of the business you must select a period for VAT Returns. The Reports are classified into three different categories as VAT Return, VAT Summary, and VAT Details.  By selecting” All “Report types the entire report will be generated for all the business entered into Surf Accounts. 

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VAT Return: To generate the VAT Return Report of a business select the Report Type as VAT Return. The VAT Return will be generated for the business and the following screen will appear. In the VAT Return Report the VAT on Sales, VAT on Purchase, Net Payable, Intra EU trade, Total Goods to other EU countries, Total Service to other EU countries, Total Goods from other EU Countries and Total Service from other EU countries will appear along with the respective codes depending on the location of the business.

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VAT Summary: To generate the VAT Summary Report select the option as VAT Summary Report of the business. The VAT summary report will separately populate the VAT amount on Sales and VAT on VAT on Purchase.

In the VAT summary report, the user can generate report code wise for e.g. as per the VAT Rates (Standard, Reduced, Exempted, Zero) for both sales and purchase transactions. 

The total amount of the sales invoices and Receipts amount will appear along with the split transactions. The VAT on the purchase will also appear along with the VAT code. The VAT on Purchase Invoices and the payments total will appear in the Total column along with the transaction in the split.

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VAT Details Report: The VAT Details Report will column wise provide the details report of a business. In a single browser, the VAT on Purchase and VAT on Sales will appear. 
 
 

VAT on Sales:

Doc. No.: The sales invoice/ credit note/ receipt number appears under the Doc. No column in the Report. 

Ref No: If there is any Reference Number against the Sales invoice the Ref No. will appear under the Reference number column. It could be a Sales Order number.
Type: The transaction type will appear under the “Type” column. For e.g. if the transaction is Invoice Type will be Invoice, or if it is a recurring transaction the type will be Rec.

Date: The transaction date will appear under the “Date” column.

Customer: The name of the customer will appear under the customer column.

VAT Code: The VAT code (as per the VAT Rate) applied against the transaction will appear under the VAT Code.

Net: The Net amount of the sales invoice will appear under the “Net” column.  

VAT: The VAT amount applied on the sales invoice will appear under the VAT column.

Gross: The Gross amount applied on the sales invoice will appear under the Gross column. For e.g. if the net amount is 100 and VAT is 20 the Gross will be 120.

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VAT on Purchase

Doc. No.: The Invoice Number will appear under the Doc. No column

Ref No: If there is any Reference Number against the invoice the Ref No. will appear under the Reference number column.

Type: The transaction type will appear under the “Type” column. For e.g. if the transaction is Invoice Type will be Invoice, or if it is a Payment transaction the type will be Pay.

Date: The transaction date will appear under the “Date” column.

Supplier: The code of the supplier will appear under the customer name’s column.

Supplier Name/ Payee: The name of the supplier will appear under the supplier’s name or payee’s name.

VAT Code: The VAT code (as per the VAT Rate) applied against the transaction will appear under the VAT Code.

Net: The Net amount of the sales invoice will appear under the “Net” column.

VAT: The VAT amount applied on the sales invoice will appear under the VAT column.

Gross: The Gross amount applied on the sales invoice will appear under the Gross column. For e.g. if the net amount is 100 and VAT is 20 the Gross will be 120. 

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The VAT Details report will also display the reports on Sales and Services. The VAT applied on total Service and Goods will appear under the VAT Details report. 

 

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Toolbar Functionality of the VAT Reporting Browse

To Print, Save, Email the “VAT Report” select the option from the Toolbar of the “VAT Report.” 

The “VAT Report.” can be saved as a PDF file to the local machine. You can also download the report as *xls file by selecting the MS-Excel option. 

By using the Toolbar of the “VAT Return Report.” browse you can print, download in MS Excel format, Save to your local machine as PDF and email the report.

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Select Print, Excel, Save and Emailing option from the Toolbar.

Print: To “Print” the reports select the “Print” option. A new browser will open up to show the “Print Preview”. If the report is ready to print then select the “Printer” icon. The reports will be printed by the printer connected to your local machine.

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Excel: To download the VAT Report in MS excel format select the “Excel” option and the report will be downloaded in the local machine in Excel (Spreadsheet) format.  All the reports will be downloaded in a single Excel file in different pages as follows: 

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Email: To send the VAT Report through email select the “Email” option from the toolbar. A pop up will be generated.

To: Enter the email address of the recipient.

CC/BCC: Enter the email address if you wish to send a copy of the report.

Subject: Enter the subject line of the mail dial up box. 

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