10.6 Reconcile Accounts & Sales / Purchase Tax
With Reconcile Accounts & Sales / Purchase Tax reports, you can view the vouchers due to which difference in the VAT Summary and Balance Sheet appears. For example, you have entered a Sales voucher in which an item of Rs. 100 is taxable @ 4%. Further freight and forwarding (in which Adjust in Sales Account data field is enabled) charges of Rs. 20 are levied on the sale. In such a case, sales amount is Rs. 120 but the taxable amount is Rs. 100. Now this report will list all such vouchers due to which the difference has appeared in the Balance Sheet and VAT Summary.
In the Sales Tax / VAT menu, two different reports for Reconcile Accounts & Sales Tax and Reconcile Accounts & Purchase Tax appear. The only difference between the two reports is that former report displays the vouchers in which taxable amount and sale amount is different and the later report displays the vouchers in which taxable amount and purchase amount is different.
As both the reports are totally similar, we will discuss only the Reconcile Accounts & Sales Tax report.
On clicking the Reconcile Accounts & Sales Tax option, a Reconcile Accounts & Sales Tax message box appears. In the message box, there are three options. The options are:
Local – Select this option to view report for local transactions only.
Central – Select this option to view report for central transactions only.
Both – Select this option to view report for all the transactions.
On selecting any of the above option, a Report Options window appears. Given here are the data fields that appear in the Report Options window.
Starting Date – Enter the starting date from which the vouchers are to be picked.
Ending Date – Enter the ending date up to which the vouchers are to be picked.
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Enter required data in the data fields of Report Options window and click the Ok button. On clicking the Ok button, Reconcile Accounts & Sales Tax report appears. Given here is a screenshot of Reconcile Accounts & Sales Tax report.
Figure 10.10 Reconcile Accounts & Sales Tax
