DashboardIncome Statement & Balance SheetCompany InfoDRAFTDRAFT Balance SheetDRAFT Cash FlowDRAFT NotesAdjustment JournalJ1 — Tax ScheduleJ — Tax ComputationM1 — VAT 201N2 — Salary ScheduleC — Asset ScheduleB — Loan ScheduleB5 — Instalment PurchasesH — Cash ResourcesG — Debtors Schedule
PRODISIZE
M1
VAT 201 RECONCILIATION
Enter monthly Gross Sales, Zero-Rated Sales and Input VAT per VAT201 returns. Output, Net Sales, Net Purchases and Payable calculate automatically.
AS PER VAT 201
PeriodGross SalesZero-RatedOutput VATNet SalesInput VATNet PurchasesPayable
March 2026----
April 2026----
May 2026----
June 2026----
July 2026----
August 2026----
September 2026----
October 2026----
November 2026----
December 2026----
January 2026----
February 2026----
TOTAL-------
Net Sales (std-rated) per VAT 201
-
Zero-Rated Sales per VAT 201
-
Total Sales per VAT 201
-
Sales per Trial Balance (Revenue)
55,256,164.74
Difference
55,256,164.74
EXPENSES PER TAX SCHEDULE (INPUT VAT RECONCILIATION)
Adjust the Vatable % per line to indicate how much of the expense is VAT-able. The TB is NOT changed — instead a recommended journal is shown below for each line where an adjustment is needed. Expected Input VAT = Original × % × 15%.
DescriptionOriginal (excl)Vatable %Vatable portion (excl)Expected Input VAT
Purchases49,146,865.3649,146,865.367,372,029.80
Accounting Fees9,753.269,753.261,462.99
Advertising & Promotions75,698.1875,698.1811,354.73
Bank Charges273,131.95273,131.9540,969.79
Cleaning17,186.3917,186.392,577.96
Computer Expenses38,046.9638,046.965,707.04
Consulting Fees11,250.0011,250.001,687.50
Depreciation CONTROL1,200.001,200.00180.00
Electricity & Water332,902.22332,902.2249,935.33
Insurance110,047.91110,047.9116,507.19
Interest Paid596.70596.7089.51
Motor Vehicle Expenses2,220.002,220.00333.00
Printing & Stationery15,474.6615,474.662,321.20
Rent Paid2,285,610.882,285,610.88342,841.63
Repairs & Maintenance11,285.0511,285.051,692.76
Salaries & Wages2,599,580.992,599,580.99389,937.15
Staff Welfare20,281.0020,281.003,042.15
Subscriptions54,801.6454,801.648,220.25
Telephone & Fax11,310.2411,310.241,696.54
Travel & Accommodation10,287.8310,287.831,543.17
Security28,693.0528,693.054,303.96
TOTAL55,056,224.278,258,433.64
Input VAT claimed per VAT 201-
Difference8,258,433.64
⚠ VAT 201 DOES NOT BALANCE to the trial balance.
  • Sales variance of 55,256,164.74 between VAT 201 net sales and TB revenue.
  • Input VAT variance of 8,258,433.64 between expected (per expenses) and claimed.