The taxes report shows a breakdown of goods & services tax (VAT, GST or Sales Tax depending on your region).

The report is based on entries made via Sales batches and Expense batches.

Selecting date range:

  • Select the 'From/To' date range for the period you require

  • By using the 'Preview' or 'Save' buttons you can decide whether to see these settings as a once-off, or save it for the next time you open the report

  • This is useful if you are focusing on one particular reporting period (bi-monthly/quarterly etc.) at the time

Detailed or not?

  • In the display settings you can choose to "Show detailed report" or not

  • This simply means whether or not you want to show the transaction lines or just a high-level balance per tax rate

Choosing to use the taxes feature:

How, or whether, you use this all depends on the client and how you decide to write up their accounts:

  • If you currently compile their VAT returns in excel, we would suggest uploading this info via a sales/expense batch each period during the year (showing net/tax/gross per line)

  • If your client compiles it themselves, then consider uploading this data via a sales/expense batch at year end to have consistent records in the annual accounts compilation

  • Either way, you will have a better view and breakdown of accurate sales and expense records within the AccountsPrep general ledger than excel, and you can review & edit on-the-go very easily!

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