Reports when VAT is switched on
Hi there, I now run Moneydance with VAT enabled. Firstly, thanks for the changes where the transaction total did not get alter due to rounding issues. Much appreciated. The next question is now about reports and VAT. When I run an expense report, it shows the category transaction but not the VAT associated with the overall transaction. i.e. the report total is then 20% lower as its VAT has not been included. Is there a report which includes both items in the transaction split for item and vat paid.
Many Thanks
Mark Jeffery
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Support Staff 1 Posted by Maddy on 25 Oct, 2024 03:29 PM
Hi Mark,
Thank you for contacting Moneydance support.
If you have enabled VAT, so that specific categories have a tax rate and a tax category assigned as described in this article, you can use these tax categories as criteria for generating reports by following the steps in this article.
I hope this information is helpful. Please let us know if you have further questions or need more assistance.
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Maddy, Infinite Kind Support
2 Posted by mark.jeffery875... on 25 Oct, 2024 04:49 PM
Hi Maddy,
Thanks for the response, I’m not sure that is what I am looking for. Let me try again.
Each transaction I create gets split into 2 parts, the item and the associate VAT tax.
When I run an expense report, I want both parts to be reported so that the report total is both the item and the tax associated with that item.
If I select the category in the report settings, I select the transaction category but it does not include the VAT with that item. So all transactions report are ex VAT.
If I turn on VAT then ALL vat transactions get reported - I only want the VAT element for the category transactions selected.
In an ideal world, it would show as a report the transaction totals, then the VAT totals and then combined total of the 2. But firstly, just the total transaction amount would be a good place to start.
Is that clearer as to what I am looking for. I hope so.
Best Regards & Thanks
Mark Jeffery
System closed this discussion on 24 Jan, 2025 04:50 PM.