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Vat

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2014 what is vat reconciliation? and how to do this in excel sheet.please let me know with proper example
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Vishnu Saboo

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Vishnu Saboo (Expert)
29 March 2014 as other reconciliation this is also a reconciliation.
you have to reconcile whether input credit shown in ur return is matched with your books for tax period, similarly ur output tax is also matching. also to check your opening & closing balance must be matched with books.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2014 thank you so much for ur reply but please let me know by example if u can because i realy want to learn it,it rqr for me in new job so pls help me...
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Vishnu Saboo

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Vishnu Saboo (Expert)
29 March 2014 for example one party invoiced u charging 100 Rs VAT and u accounted it in ur books , your return also must contain same.

Reconciliation is basically method to find out discrepancies between two statements, if any is there.
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