VAT Tools

The intermediate step to automatic VAT return

Many accountants don't use the automatic VAT return of Exact Online yet: to laborious and difficult to correct. Instead, they have split the sales ledger accounts per VAT code. The VAT return is monthly controlled by printing the various ledger accounts for sales and purchases and to determine, on this basis, the sales tax.

But VAT is a fiscal problem and entrepreneurs rather see a split in ledger accounts for the turnover according to their wishes. This is especially true for businessmen who do business internationally and deliver complex products.

VAT-Tools.com, makes it possible to help the entrepreneurs to build a general ledger structure that suits his needs and enables him to make an accurate and correct VAT calculation. In the current version it is possible to request a download of all purchases and sales in a periode for an administration (or several administrations, in case of a fiscal entity for the sales tax). It contains, among other things, the country code of the other party, the used VAT code, and more than 20 other relevant fields, such as product code.

How does app work? After login with your Exact Online user name and password, you choose the tool "VAT Posting Line". Then choose the administration, the financial year and periods. After some time a CSV download pops up. Open it in Microsoft Excel. Press CTRL-A and give it a name by typing the word "VAT" in the white A1 field on the upper left. Then add a PivotTable based on the name "VAT", instead of an Excel range, such as Sheet1! A1: c3". Drag the columns as you want them to be and get a clear insight of the VAT, underlying sales and purchases.

In case of a fiscal entity, all parts need to have the same period table and currency. Add the CSV files together and continue creating the pivot table.