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16 votes
🌟 Thanks so much for sharing this idea — and to everyone who’s added their support. We can see how valuable it would be to handle client approval for VAT returns within Xero, rather than needing to download and email them separately.
We’re moving this idea to Gaining Support so we can continue to build a clearer picture of demand and better understand the workflows behind it. Please keep the votes and examples coming — they really help our product team see the impact this would have in practice.
We really appreciate you taking the time to raise it with us.
Ben Case
supported this idea
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35 votes
An error occurred while saving the comment Ben Case
supported this idea
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An updated, functional VAT reconciliation report.
The existing VAT reconciliation report isn't particularly useful. It has to be populated manually and the figures that do populate automatically can't be drilled down into. Not helpful.
VAT reconciliation aren't really a problem for us as we can use the Detailed Account Transactions report to identify the transactions posted directly to the VAT account i.e. transactions that have a category of VAT, whether it be a VAT payment, VAT on imports or just simply a miscoding by the client. Essentially it highlights those transactions that will affect the VAT ledger balance but won't necessarily appear on a VAT return.
However, the Detailed Account Transactions report is being retired in July and I fear we'll have no way of identifying these transactions. I've contacted Xero support and they weren't aware of the report being used in this way and don't currently have plans to replace this report.
I feel there are 3 options here:
Don't retire a functional report,
Retire a functional report but replace it with a new version, or,
Create a functional VAT reconciliation report that highlights the differences between the VAT ledger balance and total VAT returns less total payments.