sale tax report figures does not add up with the relevant sales for the same period
Hey @Adonis! Thanks for reaching out about this. This is definitely a tricky situation here. Can you provide us some more context with regards to what you're seeing here? Any calculations or further screenshots from within your account of these figures and their breakdowns would be fantastic.
On the Sales Tax report, first screen shot you can see the values for the 19% VAT in green. The 3rd screenshot, is the Account Transactions reports, as generated by selecting the VAT 19(19%) link on the first. The amounts there should be the same ie the sums on the detailed reports should be the same on the summary one but are not.
@Adonis are you able to let me know if you have processed any refunds for transactions that include Sales Tax? This could be part of the issue but wanted to confirm this with you first.
@JordanD i may had issued some invoices and bills with negative value (since no Credit note availability in wave)
Hey @Adonis , thanks for getting back! If you have negative line items on your invoice, do they have taxes associated to those lines as well? The report will pull the tax amount from the amounts which are taxed only, so if there is a positive line item with tax and a negative line item without, then the report will still pull the full positive item's tax amount, even if the net payment is lower. You would need to go back to Sales > Invoices and add a tax to the negative line item on the invoice as well, which will cause the report to match!
Hi @CallieP yes they do. They are all ok. On the Tax report, if i click the 19% VAT tax entry to view the detailed report, then the numbers are correct. The problem is on the Sales Tax summary page.If that was due to a missing tax entry, then that should be reflected both to the summary and the details part of the report.
Hi @Adonis , thanks for getting back! Thanks also for specifying that the issue is on a specific page outside of the report. Would you be able to clarify which page you're seeing this on? For example, the Sales tax report is under Reports > Sales Tax Report, or transactions are under Accounting > Transactions. Thank you!
Hi @CallieP. As you can see on the Sales Tax Report, the Tax Amounts are 7328.88 for the Sales and 2510.81 for the Purchases (in Green). If i click on the Vat19 (19%) link on the report, to get the Detailed analysis, second pictures, the corresponding TAX amounts are 7072.38 and 2786.31.
I believe this is an error. The sums for both Tax reports and corresponding Account transactions should be always the same.
Hey @Adonis , when looking through those transactions that are associated to the Sales Tax, do you have any refunds listed by chance? If so, how are they categorized? Let me know.
Hi @AlexL . I'm not sure how to recognize a refund in those transaction. As far as i know we do not do refunds, we just issue invoice/purchase with negative amount since no credit note availability in wave.
You'll want to head to your transactions page > Select filter > Filter the VAT account > Here you should be able to audit your transactions to find if one of these was a refund. You can also view this under Reports > Account transactions (general ledger) report > Filter the VAT and see which one may be a refund by checking the debit column
Hi @BarsinA . The Vat account is used to record VAT tax for both sales and purchases so its expected to have debit and credit data thus making it difficult to discover if one of the transaction is "refund". In any case, even if a transaction is a refund, why should this affect the summary of the report as i explained in my posts? The summary of an accounts should be the same as the sums of details.