Make VAT and GST Reconciliations Less Painful with QuickEasy BOS

VAT and GST compliance can take up valuable time, especially when your team manages different transaction types, tax categories, reporting periods, and late supplier invoices. QuickEasy BOS helps you simplify the process by giving you a structured, reliable way to calculate, reconcile, and report VAT or GST from one integrated business system.

Configure VAT or GST Around the Way You Work

You can set up QuickEasy BOS to manage VAT or GST requirements in most countries. The first step is to create VAT types, such as standard rate, zero-rated, or exempt, and assign the correct percentage to each one.

You choose default VAT types when you create transaction types, including whether the tax should be treated as input or output. When you capture a transaction, you can still edit the default if the source document requires a different treatment, such as when a supplier is not VAT registered.

Capture VAT Accurately from the Start

For each transaction type you specify whether it involves Input or Output VAT and whether Inputs or Outputs are debited or credited. For example, expenses, inventory, purchases add to Input whereas supplier returns, and trade discounts deduct from Input.

You also specify whether amounts include or exclude VAT per transaction type, so your team captures amounts exactly as they appear on source documents.

The system removes the VAT amount from transactions and debits and credits the VAT Control account. It also tracks whether each amount relates to input or output VAT.

Reconcile VAT with Confidence

QuickEasy BOS uses the standard invoice-based model for VAT. The VAT Reconciliation calculates the amount you need to pay to, or claim from, your revenue authority. It summarises the VAT Control account and gives you the totals you need to complete your VAT return.

You specify your VAT reporting frequency, so QuickEasy BOS sets the correct reconciliation dates automatically. Transaction types that do not post to the ledger are automatically excluded from the VAT Reconciliation. You can also manually exclude transaction types.

Keep Control of Late and Out-of-Period Transactions

Late supplier invoices and previous-period transactions can create risk if they slip through the cracks. QuickEasy BOS helps you catch them. The out-of-period option checks past transactions and lists any items that have not yet been included in a VAT Reconciliation. This check lets you include those items and avoid missing valid claims.

Once transactions are included in a reconciliation, QuickEasy BOS marks them as reconciled and prevents them from being included again. It also helps protect data integrity by blocking edits to reconciled transactions, giving you a stronger audit trail.

Understand Your VAT Position at a Glance

The VAT Reconciliation gives you a clear view of output VAT, input VAT, totals, and the balance due. You can review the net VAT impact by transaction type and VAT type. This process makes it easy to understand where your figures come from and how to split claims between categories such as standard goods, capital goods, imports, or bad debts when required.

If output VAT exceeds input VAT, you know what you need to pay over. If input VAT exceeds output VAT, you will have a list of transactions to support your refund claim.

Simplify Review and Approval

You can create reconciliation statuses that match your internal process. Use simple statuses such as Pending and Complete, or add a review step when another team member needs to check the reconciliation before you finalise it.

Ready to Spend Less Time on VAT Admin?

QuickEasy BOS brings your VAT or GST setup, transaction capture, reconciliation, and reporting together in one workflow. You reduce duplication, improve accuracy, and give your team a clearer process for staying compliant.

If you want a more reliable way to manage VAT or GST, QuickEasy BOS gives you the tools to capture, reconcile, review, and report with confidence.

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