VAT - payed/collected

[Tom]

Hi Stan !

One question regarding VAT.

Usually I pay VAT whenever I buy something and collect VAT whenever I sell something.

At the end of each month I have to sum up all the payed VAT and sum up all the collected VAT substract the two amounts from each other.

If I payed more than collected I get a credit from my finance authorities, if I collected more than payed which should be the normal case I have to pay the amount of the substranction.

I use the "Reports" function to sum up payed and collected VAT amounts BUT what I really need is a report which shows on one page the payed versus the collected and does the calculation.

Please tell me there is a way and I just did not find it yet !?!?

Cheers
Tom

 

[stanbusk]

There is no such report but I will open a project so it can be added.

 

[Tom]

Thanks in advance !

This would be very helpful since the reports are nice presented but without comparison and a breakdown into the different VAT rates there is too much risk to add errors while doing the maths manually.