Syft's latest enhancement to the VAT/GST By Transaction report allows users to efficiently filter transaction data based on various parameters, streamlining the process of generating tailored reports for VAT/GST analysis.
If you're an avid user of Syft Analytics's Review tool, you're likely acquainted with their VAT/GST Reports. These reports offer a comprehensive overview of tax movements sorted by accounts over multiple periods, allowing you to delve into your entity's VAT/GST history. Syft's most recent enhancement to the VAT/GST By Transaction report now enables you to apply specific filters to customise the transaction data you want to analyse.
To access this feature, simply navigate to the "VAT/GST Reports" section within the Review tab. Depending on your entity's location, the section will be labeled either as "VAT" or "GST." From there, click on "Transaction" to view a consolidated list of all your VAT/GST transactions.
Take note of the various selectors located above the report. These options allow you to customise your view by choosing the number of periods, tax categories, groupings, and sub-groupings. The available grouping options - with examples - are:
Source: receivable invoice, payable invoice, money received, or manual journal
Code: No VAT/GST, Standard Rate Sales/Purchases, or Zero Rated Sales/Purchases
Account: Sales, Printing & Stationery, Wages & Salaries, Advertising, or Repairs & Maintenance
Currency: USD, GBP, NZD, or NGN
Value: Greater than $750, Greater than $23, Between $0 and $23, Between $102 and $225
This feature provides you with the flexibility to fine-tune the appearance of transaction data in your reports.
Note 📝: This feature is currently only accessible for single-entity report templates.
Crafting reports based on your VAT/GST transactions has never been simpler. Syft's latest enhancement to the VAT/GST By Transaction report empowers you to generate customised reports tailored precisely to your specific requirements. Interested in taking advantage of this feature? Sign up for the Data Review add-on today and embark on a seamless reporting journey!
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