These reports total VAT transactions for each VAT code. They can cover any date range, all VAT codes or selected VAT codes. The VAT Summary report displays amounts payable and recoverable, and the VAT Summary – Cash report displays amounts actually paid and collected. An example of the VAT Summary report is shown below.
The Less EC Purchase VAT field (located below the Total field) only affects your reports if you engage in intra-EC trade. For more information, see EC purchases.
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