{"id":21514,"date":"2021-08-20T15:12:51","date_gmt":"2021-08-20T14:12:51","guid":{"rendered":"https:\/\/bigredcloud.com\/?post_type=docs&p=21514"},"modified":"2022-11-24T12:45:11","modified_gmt":"2022-11-24T12:45:11","password":"","slug":"standard-vat-report","status":"publish","type":"docs","link":"https:\/\/bigredcloud.com\/en\/documents\/standard-vat-report\/","title":{"rendered":"Standard VAT Report"},"content":{"rendered":"

The Standard Vat Report calculates data for the VAT3 Report from the Sales Book and Purchases Book for the period selected.<\/p>\n

The normal formula for calculating VAT payable for a period is:<\/strong><\/p>\n

Total VAT collected on sales for the period<\/p>\n

minus<\/p>\n

Total VAT paid on purchases for the period<\/p>\n

Important Notice.<\/strong><\/p>\n

The owners, partners or directors of a business are solely responsible for the making of correct VAT returns to the Revenue Commissioners. \u00a0Big Red Cloud\u00ae\u00a0accepts no responsibility for errors arising from the use of this program for the calculation of VAT liabilities.<\/p>\n

The Standard VAT Report\u00a0(Republic of Ireland).<\/strong><\/p>\n

The report is formatted to make it as easy as possible to fill out your VAT form, i.e.<\/em> the totals to be entered in boxes T1, T2 etc.<\/em> of the VAT3 form are separately identified. \u00a0The report also includes a table of purchases and sales information for the Annual Return of Trading Details<\/a>.<\/p>\n

To produce this report:<\/strong><\/p>\n

    \n
  1. Select VAT from the top menu in the accounting software.<\/li>\n
  2. Select Standard VAT Calculations.<\/li>\n
  3. On display in the box entitled\u00a0From\u00a0will be the first month of your Financial Year. \u00a0Accept it or change it according to which should be the start month for your VAT report.<\/li>\n
  4. Accept or change what is shown so as to reflect which month should end the period for which you want to produce the VAT report.<\/li>\n
  5. Click on\u00a0Display\u00a0to display the report.<\/li>\n<\/ol>\n

    \"big<\/p>\n

    It is recommended that you file the report with your copy of the VAT return. \u00a0It is also advisable to print and file a copy of the Purchases Book VAT Details and Sales Book VAT Details reports for the period in question. \u00a0These will show the basis for your VAT return and will be useful to your accountant or in the event of a tax audit.<\/p>\n","protected":false},"excerpt":{"rendered":"

    The Standard Vat Report calculates data for the VAT3 Report from the Sales Book and Purchases Book for the period…<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"doc_category":[211],"doc_tag":[],"class_list":{"0":"post-21514","1":"docs","2":"type-docs","3":"status-publish","5":"doc_category-vat"},"year_month":"2026-04","word_count":304,"total_views":0,"reactions":{"happy":0,"normal":0,"sad":0},"author_info":{"name":"apathak","author_nicename":"apathak","author_url":"https:\/\/bigredcloud.com\/en\/author\/apathak\/"},"doc_category_info":[{"term_name":"VAT","term_url":"https:\/\/bigredcloud.com\/en\/docs-category\/vat\/"}],"doc_tag_info":[],"yoast_head":"\nStandard VAT Report - Big Red Cloud<\/title>\n<meta name=\"description\" content=\"The Standard Vat Report calculates data for the VAT3 Report from the Sales Book and Purchases Book for the period selected. 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