Check the VAT declaration and VAT account balances

Profit provides a default report and a default analysis for checking the VAT.

If you check the VAT declaration based on the extended trial balance, it may occur that the VAT declaration and the balance from the VAT ledger accounts on the extended trial balance do not match.

The VAT declaration is accrued based on the voucher date = invoice date of the entries. The balance of the VAT accounts on the extended trial balance is accrued based on the entry date of the entry. The entry date is the date on which the financial transaction occurs.

Differences may arise, for instance, whenever entry and voucher dates diverge in an invoice. It may occur that the voucher date differs from the entry date for journal entries and these fall in different periods, resulting in differences between the declaration and the extended trial balance. These cannot really be compared to one another.

To check the VAT declaration totals using the VAT declaration audit report:

You use this report to compare the totals with the balance of the VAT ledger accounts in the extended trial balance:

  1. Go to: Financial / Output / Report.
  2. Open the report: Controleoverzicht btw-aangifte (Profit).

    This report only displays the deviations in the calculation of the VAT; you see the differences between the VAT amounts calculated by Profit and the VAT amounts you have entered.

  3. If applicable, filter by the word 'VAT' in order to see all VAT reports.

To check the VAT using the VAT Recap analysis:

Profit provides a default analysis for checking the VAT: the VAT Recap. At the end of the financial year, you use this analysis to check whether your VAT declarations tally with the financial entries so that any differences can be explained.

  1. Go to: Financial / Output / Analysis.
  2. Open the analysis:

    Turnover tax per section/period in current year and previous year (Profit), if you want to see the VAT data for a year immediately

    • VAT Recap 2014 (from Office 2007) (Profit)
    • VAT Recap 2014 Month (from Office 2007) (Profit), if you want to check the VAT administration per month
    • VAT Recap 2014 Quarter (from Office 2007) (Profit), if you want to check the VAT administration per quarter
  3. If applicable, enter the filter.
  4. Click on: Finish.
    1. Click on: Start btw controle.
    2. The Btw Recap analysis displays the following components:
    • VAT declaration: the total declaration 20nn per section (nn stands for the year, thus 2013, 2014 etc.).
    • Financial entries: All financial entries that form the calculation basis for the VAT.
    • Reconciliation: Explanation per VAT section of any difference between the VAT declaration and the financial entries.
    • At the bottom, the VAT total that must be paid and the VAT total that has been paid. Any supplement amounts are displayed if a supplement needs to be generated.

See also:

Directly to

  1. Year-end transition Financial
  2. Automatically extend the period table years
  3. Block a fixed assets financial year
  4. Recalculate cumulatives
  5. Set the opening balances of the VAT accounts for the new year to zero
  6. Check the VAT declaration and VAT account balances
  7. Check the debtor and creditor summary account balances in the extended column balance or trial balance
  8. Check the voucher and invoice counters