Archibus SaaS / Leases / Cost Reports
Real Property / Costs / Cost Administrator

VAT Amount Balance Report

If you have enabled the Archibus Enhanced Global Feature Set, you can generate the VAT Balance report that enables you to:

You can generate the data as a chart that you can then export to a DOCX file, or you can export the data to Excel.

By default, the report presents Actual Costs showing net income, but using the Filter, you can select the cost types (Recurring or Scheduled) to be included, or to show only income or only expenses.

By default, the fields are shown in the Budget Currency, but using the Currency button, you can select to display the amounts in your User Default Currency, or a currency that you select. If you select a currency, you can also select whether to show costs using the Budget Exchange Rate or the Payment Exchange Rate. When you make these selections, the amounts are converted from the Budget Currency to the selected currency. The application uses the conversion factor closest to the cost's Date Paid (if available); if not available the Date Due is used to locate the conversion factor.

The report can be generated by the month, so you can determine how much VAT tax to pay each month to each of the governments for the countries in which you do business. You can filter the report to include only specific locations or costs. For example, you can restrict by country to show your tax obligation for each country. You can send the Monthly VAT Balance report to accounting for review to ensure alignment between the real estate and finance systems. After reviewing the report, accounting approves and pays the VAT, and can notify you of any updates.

The VAT Amount Balance Report can also be generated for any date range that you specify. When you need to validate past costs, such as when being audited, you can generate the VAT Amount Balance report restricted by date, cost category, geography, or portfolio item (property, building, or lease).

Note: The total tax obligation will be calculated in the financial system not in Archibus. This is because there are tax obligations and formatting requirements that are more complex than the calculations that Archibus provides.

When you generate the report to show both income and expenses, the Monthly VAT Balance report uses the following formula to calculate the tax obligation:

[Tax Amount] = [Total VAT Earned as Income for that month] minus [Total VAT Paid as Expense for that month]

The VAT Balance report provides you with:

Field Calculation
Total VAT Earned as Income

Sum of all Amount Income - VAT (Payment) for all cost transactions that meet the restriction you set to generate the report.

This is the VAT your tenants and customers paid to you and that you now owe to the government.
Total VAT Paid as Expense

Sum of all Amount Expense - VAT  (Payment) for all costs meeting the restriction you set to generate the report.

This is the VAT that you paid to vendors for products or services you bought from them.
Tax Amount (Total VAT Earned as Income) - (Total VAT Paid as Expense)

Analyzing VAT Cost Details

From the VAT Amount Balance tab, click on an amount to see the breakdown for the cost categories contributing to that amount for that portfolio item. The Details tab becomes active to show these breakdowns. The data on this tab uses the currency selection you make using the Currency button, and can be exported to Excel.

The report also enables you to validate these numbers by drilling down to the specific VAT amounts stored in the cost records. Click on an amount for a cost category and time period to review details for the specific cost transactions included in the total. You can export this data to a DOCX file or to Excel. The amounts are reported in the currency you selected for the report.

The following details are shown for the cost transaction:

See Also