Real-time VAT Liability Dashboard & Reports (UK Standard VAT)

Overview

To help you monitor and track your VAT liability, Zumzum Financials includes a real-time VAT Liability Dashboard with drill down capabilities to the underlying transactions using standard Salesforce reports.

You are able to use this dashboard and reports to monitor your VAT liability in real-time, although it’s not designed to a replacement to your actual VAT Return or VAT Audit Report.   You will find differences from your actual VAT Return calculations and the VAT Liability Dashboard based on the following limits:

The VAT Liability Dashboard and Reports do not include:

• Does not replace VAT Return or VAT Audit reports
• Does not cater for Late claims on VAT Return
• Does not consider, use can exclude line items from the VAT Return.

Access The VAT Liability Dashboard

Below is a description of how to access the Dashboard.

1. Open the App launcher and navigate to Dashboards.
2. Click on All folders from the menu.
3. Click on the Zumzum Financials Dashboard Folder
4. Open Real-time VAT Liability – UK Standard VAT Accounting.
5. Please click on the Refresh button near the top right of your screen.
6. You can click on each of the components to drill down to the underlying reports for each VAT Box

Access the VAT Box Reports (UK Standard VAT Scheme)

1. Open the App launcher and navigate to Reports.
2. Click on All Folders from the menu.
3. Find the VAT Reports – UK Standard VAT Accounting report folder
4. You will now see a list of VAT Box Reports, which include VAT rates, input and output tax for all your ledger transactions.
5. Click on the VAT Report you wish to reun, e.g VAT Box 1 – UK Standard VAT