VAT Reconciliation

VAT Reconciliation

Didn't find your answer?

Hello

I have recently started my Accountancy Training and doing well on the job.

I may face Complicated VAT Reconciliation Jobs in the future for different clients.
i wish to know that ,

What constitute VAT Reconciliation and what approach shoul i adopt ,so that i could impress my senior bosses. Or is there any good bank coverin all circumstances.

Kind Regards

Rehan Arain

Rehan Arain

Replies (1)

Please login or register to join the discussion.

avatar
By User deleted
20th Nov 2006 11:10

In my non-computerised book
it's starting with the cumulative sales for the year as shown in the VAT returns and setting out the adjustments you have made to reach the sales figure shown in the accounts (taking out sales of equipment, correcting errors etc.).

I just keep a list as I work through the various analysis stages of my clients' non-computerised records and then pull it all together, with a note of the audit adjustment necessary to the next quarter's return.

What you do with an all singing, all dancing accounts package I dread to think.

Thanks (0)