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VAT late claims report

Hi,
Something that would be very helpful as an accountant, is the ability to run a report for a given date which shows all the transactions where the VAT was claimed/paid on a later return. I know that the VAT reconciliation report doesn't work with MTD.
Happy to discuss to help with this.

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Hayden Haney shared this idea  ·   ·  Report…  ·  Admin →
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Accepted  ·  AdminKelly Munro (Community Manager, Xero) responded  · 

Hi everyone, we appreciate why you’d like a report that provides visibility of VAT late claims to streamline your reconciliation processes, especially around year-end and for monthly VAT returns.

Currently, it's possible to use the Account Transactions report to manually reconcile against filed VAT returns, although we get the desire for a more automated solution.

This isn’t on the team’s roadmap at present, however this is something we'll continue to consider how we accommodate these needs in future planning for tax reports in Xero. I'll be sure to let you know if there is any movement to share, here.

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  • Joanne Yeates commented  ·   ·  Report

    Hi Kelly, there definitely needs to be improvements to XERO's VAT reporting and reconciliation processes. The actual VAT return itself is very unwieldy. Ours is around 50,000 lines long by the end of a quarter and there is no easy way of being able to filter to get to the next headings/sections - just a lot of time-consuming scrolling through. And that is before we even start the manual reconciling. The VAT Reconciliation report is not that useful either. I've worked with a XERO consultant to see if we could resolve some of our rec issues and it wasn't the solution we expected.

    We've just moved from an other accounting package that was built into a mainframe. The VAT reporting on XERO is a big step backwards which has surprised me as our old accounting package was underdeveloped. XERO's VAT reporting is perhaps OK for a sole trader/small business with few transactions but for more developed businesses who need to perform more contorls, the current VAT Reports and reconciliations are a big step backwards for us.

    We reconcile the VAT control account each month due to the volume of transactions we have and to avoid year end recs.

    A late claims report would be useful. Also, re-thinking the layout of the VAT returns so that they can be filtered/pivot table etc. e.g. a column which repeats the heading for each transaction.

  • Claire Milliken commented  ·   ·  Report

    I would like a report that can be run at year end that shows you all the late claims for that year submitted in future VAT returns as at the moment you need to go into each VAT return to see this information and it's time consuming.

  • Louise MacSweeney commented  ·   ·  Report

    Please add this feature. It was floated over 3 years ago. VAT recording and filing requires enough checks as is. You have history and notes for bills and invoices which time stamps everyting, surely this can be used to capture 'VAT' attracting transactions that are inputtted post filing.

  • Jennifer Cardno commented  ·   ·  Report

    It would be really useful to have a Late claims VAT report. This would really help for reconciling the VAT at the year-end - a report showing any Late VAT claims at the year-end date. At the moment, we have to manually go through the VAT returns to identify any late claims.

  • Elsa Passagne commented  ·   ·  Report

    Hello,
    VAT on services is claimable up to 6 months before the day of registration, would it be possible to have a special VAT code for it or find a way to include it on the first VAT return?

  • John Allison commented  ·   ·  Report

    Is there any chance Xero are re-considering adding this feature? It is unnecessarily time-consuming at the moment - particularly with clients on monthly VAT returns

  • Monique Wolvekamp commented  ·   ·  Report

    You can see from the comments below that this is really and very unpractical way and time consuming at best. Moreover I believe at least the transaction report should have a filter of entry date so we can set the date to after the date of filling. In all fairness I love Xero but this is really doing my head in and is a sure disadvantage to any accounting software out there,

  • Sue Smith commented  ·   ·  Report

    Hi,

    I am also finding the late claims report for VAT very difficult to go through. As i use tracking categories - all my amendments outside the current quarter run back through the late claims. So i have a difference but cannot easily get to where the differences are. It would be good if Xero would say split out late claims from adjustments - that do not affect VAT and the transactions that you are claiming which is what is making the difference. checking this through would be so much easier.

  • Sally Farrant commented  ·   ·  Report

    I really need to be able to reconcile the MTD vat with the ledger balance and it's so laborious to do this

  • Diane Mitchell commented  ·   ·  Report

    Good morning

    I agree with the above as I do find the reports very limited when reconciling, especially at the year end. It would be beneficial to be able to run a report showing which transactions have been reconciled.
    I have a difference between the VAT paid at the year end to the VAT showing on the Trial Balance and other than ticking off every transaction there is no other way to find out where the differences are.

  • Matthew Baker commented  ·   ·  Report

    When running a VAT return for a non-uk country you have to run the sales tax report. But this report is driven off of a date range only and unlike the UK VAT return it doesn't mark as "filed" transactions you have previously reported on so we are missing the late claims functionality of the UK VAT return. Can we have a sales tax report with the ability to bring in late claims to the report so transactions do not go unfiled.
    Currently the only option is to run the report for previous periods to check that nothing has changed.

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