UO Detailed VAT Report – Costs

Why run this report?

  • To review AP transactions for apparent VAT errors to notify to the Tax Team.
  • For evidence of internal assurance work.

When should you run this report?

This report must be run after the AP module has closed for the preceding month.

How to run this report

Select the following parameters:

uo detailed vat report costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To run the UO Detailed VAT Report – Costs (‘VAT Costs Report’) you must enter GL Period From’ / ‘GL Period Toand a cost centre range.  Additional parameters can be added to restrict the data to any specific area of enquiry e.g. a date range within the GL periods you have specified, or restricting to Activity 25 (trading transactions) etc.

The report returns 52 columns of data, which provides the full data used by the R12 tax engine to drive the VAT results, plus a full complement of source and reference data.  To make it manageable you may need to hide columns as suggested beneath, but do not delete columns; this will confuse the column references used here and the data may be useful for later use. It’s also best to use Data/Filter rather than the Data/Sort function so as to avoid scrambling the rows, then use the ‘sort largest to smallest’ command from the dropdown box of each column to order the rows by that column value.

What to do with this report

The following is a recommended routine of basic checks, and there may be other checks that you will want to carry out specific to the activities or risks of your cost centres:

  • You may want to hide some of the date or posting reference columns. Do not delete columns
uo detailed vat report costs filter2

 

 

 

 

 

 

 

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  • First, use the Filter drop down box to sort column Z ‘Net Amount GBP’ from largest to smallest. Do the largest value transactions look reasonable on the basis of any VAT charged per column AA ‘Total VAT GBP’? Remember that the VAT recovery as displayed in columns AD ‘Non-Recoverable VAT GBP’ and AE ‘Recoverable VAT GBP’ is driven by the cost centre/project. If the VAT amount is correct you can ignore any recoverability errors. These are automatically corrected monthly by a global journal posted by the Tax Team.
  • Lastly, use the Filter drop down box to sort column AW ‘Goods or Services’ from Z to A. This will display SERVICES on top. Then use the Filter drop down box to de-select GB from the filter applied to column AX ‘Ship from Site Country Code’. Carefully examine that all services bear VAT under the ‘reverse charge’ mechanism that is duly applied by Oracle even though there is nil VAT on the invoice. The main exceptions to reverse charge VAT are services of patient treatment, conferences hosted overseas and many expense claims.  

Which outputs does this report have?

  • Excel - a simple list of data that can be filtered but has no totals.
  • Excel Pivot - designed to make analysis of the data easier, the default layout can be changed once the report has opened in Excel from this output.
  • Excel Template - a printable and emailable format that can be edited.  This includes the Excel output for FSG reports.

Which roles have access to this report?

  • UO Tax Reports                                                 l UO Payables Dept Reports
  • UO Payables Central Reports                           l All Reports (Purchasing)
  • UO Buyer Work Centre Reports                        l UO Payments Manager Reports
  • Departmental Enquiry responsibility

What to do if you suspect there are errors

  • If it is a supplier error, then contact the supplier to credit and re-invoice the transaction. Ignore recovery errors.
  • Otherwise, complete the VAT Error Report for central correction and return it to vatenquiries@admin.ox.ac.uk with backup by the Working Day+12 of each following month.
  • Contact vatenquiries@admin.ox.ac.uk if you have any queries.
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