When preparing a VAT return, my current procedure involves reviewing transactions on the detailed report and agreeing the VAT liability account against the VAT amount on the return. Are there any additional steps I should consider implementing?
Also, why could somebody provide some examples as to whg the VAT amount on the trial balance for the quarter may not match the VAT amount on the VAT return? I know if its cash accounting its unlikely to reconcile but what if its standard accounting? I thought every transaction posted with vat on it would go straight on to the VAT return.
