Using the VAT Return Report

You can run a VAT Return report by choosing VAT Return in the Other Reports screen. You can:

  • View the amount of VAT you need to pay and the associated calculation.
  • File the return to reset your VAT account balances to zero.
  • Change the date range of the report.
  • Save, print or email the report.
What does the report show?

The report shows the VAT due on your sales as well as the VAT reclaimed on your purchases and the net VAT to be paid (or reclaimed) by you. The format follows the UK VAT-100 form. The calculation used is shown immediately following the report.

When filing your VAT, a record should be kept of the calculation. You can use one of the send options in the action menu to do this. This is especially important if you are using the flat rate scheme, because EasyBooks will always run the report using the current flat rate percentage and you may wish to store a copy of your previously filed returns.

How does EasyBooks pick the initial date range?

The Next Period End date from the Business Settings screen is used as the end date of the report. If this date has not yet passed, the report uses the current date instead. The start date is set as the day after the previous filed return, or the date of the first transaction if you haven't yet used the File Return option.

How do I view a previous period?

Use the back and forward buttons to change the report dates quickly to the previous or next VAT period.

Note: If you are using a flat rate scheme, the report is always calculated using the financial data you have entered and the current setting for your flat rate percentage. This means if you change the percentage and re-run the VAT report for a period, the new percentage rate is used to calculate the return. But this does not affect your accounts or VAT due for older periods: the accounts are only updated when you use the File Return option.

For details of how to set up EasyBooks to manage VAT, please refer to:

How do I save, print or email the report?

In the report screen, click send located in the top-right corner of the screen, followed by one of the send options.

Options in this Screen

Start date

You can set the start date to any date prior to the currently selected end date.

End date

You can set the end date to any date after to the currently selected start date.

Tax settings

This section repeats the VAT settings from the Business Settings screen.

File return

This option is available if the Next Period End date set in the Business Settings screen has passed.

This option posts adjustment lines to all your tax accounts. This sets the balances to zero for the start of the next tax period. The overall VAT is moved into your "VAT due" account. If you are operating one of the cash schemes, any VAT not yet due for payment is moved into your "VAT deferred (cash scheme)" account. The next time you use the File Return option, this amount is included in the amount you owe.

Undo last return

Using the File Return option locks transactions up to the last VAT period end date so they cannot be changed accidentally. Use the Undo Last Return option if you need to make a change to a previous period.