Check Sales Below Cost VAT Invoice
The Check Sales Below Cost VAT Invoice report allows users to view items sold at prices lower than their cost. The report displays sales documents and the created VAT invoices. You can also use the Role Center within the Roles SMART Chief Accountant and SMART Accountant to run the report by clicking Actions > VAT > Check Sales Below Cost VAT Invoice, or through All Reports > Reports & Analysis.
To run this report:
- Use the Search icon to find and open the Check Sales Below Cost VAT Invoice link.
- In the opened window, set values for the filters:
| Filter | Description |
|---|---|
| Date Filter | Specifies the date that will be used to filter the customer entries in the window. |
| Period Type | Specifies by which period entries are displayed. |
Note
You can also activate option Show only differences so, that the report displays only those lines where the values in the Sales Below Cost VAT Inv. Amount and Below Cost Amount are different by lines.
- Click the Recalculate Lines button.
The report rows show the following information:
| Field | Description |
|---|---|
| Item No. | Specifies the item code. |
| Description | Specifies the item description. |
| Sales Inv No. | Specifies the number of the posted sales invoice. |
| Sales VAT Inv No. | Specifies the number of the Sales VAT Invoice issued for the sale of the goods. |
| Sales Below Cost VAT Inv. No. | Specifies the number of the VAT Invoice issued for the sales below cost. |
| Sales Amount | Specifies the amount of the item sale. |
| Cost Amount | Specifies the amount of the item cost. |
| Sales Below Cost VAT Inv. Amount | Specifies the amount in the issued VAT Invoice for sales below cost. |
| Below Cost Amount | Specifies the difference between the amount of sales and the amount of the item cost. |