Investigating VAT 126 Report Differences

Before submitting your VAT return, it is important that the VAT 126 report reflects the position of the VAT period. This topic provides suggestions for resolving some of the common queries that arise when reconciling the VAT 126 report with the VAT period.

There are two key issues that may occur.

Documents not displaying on the VAT 126 report

For an invoice or credit note document to appear on the VAT 126 report, the applicable supplier must have a VAT 126 description entered against their account. This displays the goods or services provided to your establishment/organisation.

To check if the Supplier has a VAT 126 Description:

  1. In IRIS Financials go to Masters > Accounts and double-click on the PURCHASE accounts.


  2. Highlight the supplier whose document is not showing on the VAT 126 report and click on the User Fields tab.

  3. The VAT_126_Description field must be completed. This should contain a brief description of the goods or services supplied to the organisation.

  4. Enter a description in the VAT_126_Description field and click the Apply button.
    This will populate the VAT 126 report with any documents for that supplier where applicable.

Documents are listed in the Further Details Required section

Documents that appear in the Further Details Required section of the VAT 126 report have been posted with the supplier VAT number omitted.

The example in the following graphic shows document CAPT 1 as requiring further details.

further_details_required.png

This typically occurs on documents that are not posted to the Purchase Ledger, such as Credit Cards, Direct Debits and Petty Cash.

All of these document input forms contain a Supplier VAT Number field. If this field is not completed when the document is entered, it will not pull through to the VAT 126 report.

To add the supplier VAT number to a document:

  1. In IRIS Financials select Options > Document Enquiry.
  2. Use the Selection Criteria screen to find the applicable document. Click the OK button.

  3. The Document Enquiry screen will display the document(s) that meet the selection criteria.

  4. As shown in the previous graphic, UF3 Change in psfin32.ini is blank on CEN9521 nominal (VAT Input) line. This field should contain the supplier VAT number of the transaction. This would imply it has been omitted from the document.

  5. To add this in, right-click on the grey box to the left of the document type as shown in the following graphic and click Change Document.
    capt_1_change.png
  6. The System Journal Input is displayed. Enter the supplier VAT number in Userfield 3 (9521 nominal) on the VAT row and press F5 to post the document.

  7. Refresh the VAT 126 report. The supplier VAT number is showing on the document and it is now appearing in the main body of the report.