The net amount for reverse charge sales (originating from a reverse charge purchase) displays on the posted vat inquiry/report table as a positive figure. I would expect this to show as a negative (the opposite to the purchase).
This results in a reconciling difference when reconciling the VAT100 report with the posted vat report.
Comments
I completely agree. The VAT amount has the correct signage but the net amount doesn't making the reconciliation process a very manual piece of work. The signage should be consistent so that the posted VAT enquiry report agrees to the VAT100.
Getting my vote!
Category: Tax