You can generate an output of transactions that the MTD Vat Submission module is using to calculate your VAT and Net Figures. To do so follow these steps.
1. Go into the VAT Submission Module
2. Populate the Submission module with your VAT calculation details as described here.described in Digital VAT Submission - read here before you begin!
3. Tick the Create CSV Report checkbox and then click Calculate.
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4. An Excel document will popup and populate with the transactions used to calculate your vat submission.
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6. To make sense of the data take note of these data types:
VAT INPUTS Calculations:
VATRecalimedOnInputs-All
All = All transactions included in the Inputs submission.VATRecalimedOnInputs-GB0100085 GB0100085 = (the GB010085 portion will reflect your productions VAT account code)
= . The transactions in your VAT account that are included in the Inputs submission.Net Purchases and Inputs is calculated as: the SUM of the VATRecalimedOnInputs-All type MINUS the SUM of what is in the VAT Account, the VATRecalimedOnInputs-GB0100085 type. NET = VATRecalimedOnInputs-All - VATRecalimedOnInputs-GB0100085Inputs =VATRecalimedOnInputs-All minus VATRecalimedOnInputs-GB0100085.
VAT OUTPUTS Calculations:
VATDueOnOutputs-All = All transactions included in the Outputs submission.
VATDueOnOutputs-GB01000850 = (the GB0100850 portion will reflect your productions VAT account code). The transactions in your VAT Sales accounts that are included in the Outputs submission.
Net Sales and Outputs = VATDueOnOutputs-All minus VATDueOnOutputs-GB01000850.
NET VAT Calculation:
Net VAT = VATRecalimedOnInputs-GB0100085 minus VATDueOnOutputs-GB01000850.
How to enter a Reverse Charge Invoice
You would need to enter the invoice as follows:
Expense a/c Tx V 800.00
Input VAT Tx V160.00
Reverse Charge a/c Tx S -800.00
Output VAT Tx S -160.00
Reverse Charge a/c Tx (blank) 800.00
I would probably setup on the Excel AP Cheque Template so it will fill in all the extra lines and can calculate them based on the invoice amount. Eclipse Excel Templates
You could use different Tx codes than V and S but the end result will be the same.