Reviewing a VAT return means reconciling the sales, purchase, adjustment and document cycle. It is more than entering totals into a filing form.
Reconcile before filing
We compare sales and purchases to accounting records, supporting documents, invoices and relevant notes, while understanding timing differences between periods.
Key review points
- Sales and revenue classifications in the context of the activity.
- Purchases, supporting documents and adjustments.
- Notes, corrections and differences carried between periods.
- Reconciliation between accounts and data available through electronic systems.
Before submission
We document differences that need explanation and distinguish accounting, documentation and timing issues before defining the appropriate treatment for the actual case.
Every VAT position must be reviewed through its own facts and records. A generic checklist cannot replace case-specific analysis.