Checking your Xero VAT Return

[@lulututu2981]

How do we find a difference between the vat return and trial balance totals?

[@aloria19]

Hi - Haven't got access to Xero yet, hopefully incorporating a ltd in the coming days. Have been subjecting myself to death by KZbin watching many of your fab videos - thanks!. I have a question though which you may have covered elsewhere or may need another video: I will be buying various stock from a local Auction house. Some of the lots are +VAT and others not, each line on their invoice also details their commission charge which is +VAT. How would Xero account for that line by line?

[@XUSolutions]

Welcome to the wonderful world of Xero. It's very easy to code a purchase invoice to more than one account - this video might help kzbin.info/www/bejne/q3evdmpqbK-Xn5Y

[@Lochnivar]

I know this sounds like a ridiculous question - Is the VAT return based on invoices raised on Xero (even those overdue for a period) or is it based on the invoices/transactions that have been reconciled against the banking stream? (i.e. Paid) plus any other incoming monies?

[@XUSolutions]

It depends which VAT scheme you are on. Standard/accrual - based on invoice date Cash - based on date paid

[@bilaliqbal3615]

i am in Financial setting tab but couldn't find VAT, there is only sales tax. Please help me out to solve this

[@XUSolutions]

VAT is the UK term for sales tax

[@faithrabai1911]

How does one find the consolidated VAT report. Both sales taxe report and purchase tax report?

[@XUSolutions]

Click on the transactions by tax rate tab to show you what’s in the vat return

[@faithrabai1911]

@@XUSolutions Thankyou. Is it possible to customize the VAT report?

[@XUSolutions]

@@faithrabai1911 no it's in the format required by HMRC

[@rosiesuthers1798]

I have been under reports and there is No vat Audit report? please can you give me more information

[@XUSolutions]

You will find the information as part of the VAT return report but on a separate tab.