Tax Reports and VAT

Simplify tax time with automated tax reports.

VAT Report

For UK businesses:

• VAT charged (output tax)
• VAT paid (input tax)
• Net VAT owed
• Ready for submission

Generating VAT Report

1. Go to Reports > Tax
2. Select VAT Report
3. Choose quarter or custom dates
4. Generate report
5. Export for submission

Tax Summary

Year-end tax overview:

• Total revenue
• Total expenses
• Taxable income
• Tax liability estimate

Note: Not tax advice—consult accountant.

Sales Tax (Non-UK)

For other countries:

• Sales tax collected
• Tax rate breakdown
• Tax by jurisdiction
• Ready for filing

Invoice Tax Breakdown

See tax details:

• Tax charged per invoice
• Tax rate applied
• Client location
• Reverse charge status

Expense Tracking

Track deductible expenses:

• Business expenses
• Receipt storage
• Category breakdown
• Tax deductible items

Year-End Reports

Generate at fiscal year end:

• Profit & Loss
• Revenue summary
• Expense summary
• Tax estimates

Working with Accountants

Export data for your accountant:

• Transaction history
• Invoice details
• Receipt images
• Tax calculations

Tax Report Best Practices

1. Track immediately: Don't delay entries
2. Categorize correctly: Proper tax codes
3. Keep receipts: Store digitally
4. Quarterly reviews: Don't wait for year-end
5. Consult professional: For complex situations