VAT Detail report is crucial for businesses in VAT jurisdictions, as it provides an overview of the VAT-related transactions and can help to:

• obtain a detailed breakdown of transactions and provide an audit trail;
• identify transaction where no VAT invoice has been posted;
• transparently represent the VAT payable / deductible balance.

Please note: Apply vendor credits and Apply customer credits document are now displayed in the VAT Detail report, as they do not directly influence the VAT payable / deductible balance.

In addition to the common setting that all of the reports have such as time period settings of filtering options, VAT Detail report also has some specific features.

1. “Detail” view by Item provides low-level information by displaying columns “Item”, “Asset tax class” and the Item “Tax group”, whereas the “Summary” view by Item supresses this information.

2. The VAT Type selection field allows you to select either Incoming VAT or Outgoing VAT or both.

Please note: If VAT type is both Incoming and Outgoing, then the Total line represent the difference between them (Incoming less Outgoing). Positive Total is VAT claim against the tax authority, whereas the negative total is the payable to the tax authority.

3. In order to identify the documents where no VAT invoice has been posted, the Tax Invoice selection field allows to display the documents where the VAT invoice has been posted (“Not Issued / Not Received” option). A drill-down is available in the VAT Details report, allowing the user to quickly access the data and, for example, issue the VAT invoice.