Who is this guide for?

Accounts Users and Accounts Supervisors

You can produce VAT reports on Osprey. This guide will help you to understand them.

Standard VAT

There are a number of reports in Osprey which detail the VAT on the system.

Step 1


Period End VAT Journal (Reports > Financial Management > Period End) – This lists all vatable transactions on the Osprey system for the period, including a balance brought forward from previous periods. This includes any nominals which are not ticked to Exclude from VAT – it is important therefore to ensure that any non-vatable nominals are ticked to Exclude VAT.

DescriptionHow is it calculated?
This period Inputs/Outputs valuesThe sum of all postings in the period
Net Inputs/Outputs This PeriodThe sum of the Outputs and Inputs total columns from the above row (This Period Outputs £-260 + This Period Inputs £20 = £240)
VAT/Bank postings this monthThe total of any VAT Payments/Adjustments made in the period
NET value this periodThe sum of Net Inputs/Outputs This Period and VAT/Bank Postings This Month – £-240 + £0 = £-240
Balance Carried ForwardThe sum of the Balance Brought Forward figure at the top of the report, and the NET Value This Period figure at the bottom of the report –
£-4600.38 (Balance Brought Forward) + £-240.00 (NET Value this period) = £-4840.38 (Balance Carried Forward)

Step 2


Period End VAT Summary (Reports > Financial Management > Period End) – This totals the period figures from the VAT Journal and sub totals at each VAT Quarter End.

  • Inputs = total VAT on all Purchases.
  • Value of Inputs = total of posting amount from purchases.
  • Outputs = Sales VAT
  • Value of Outputs = Sales Total of posting value

Step 3


Period End VAT Form (Reports > Financial Management > Period End) – This report takes its figures from the VAT Summary report and can be used to enter the figures on your online VAT Return.

  • Box 1 Shows Outputs from Quarter on VAT Summary
  • Box 4 Shows Inputs from Quarter on VAT Summary
  • Box 6 Shows the Value of Outputs from Quarter on VAT Summary
  • Box 7 Value of Inputs from Quarter on VAT Summary

The amount of VAT to pay should show in box 5 on the above form. This should be posted to the VAT JNL in Osprey > Banks and Journals as a VAT Payment.

Cash Accounting

As above, but for Sales VAT, you will need to use the Period End Cash Received report (Reports > Financial Management > Period End):

From the VAT Summary (Reports > Financial Management > Period End), check the Vat Cash and Costs Received columns:

And then compare to the VAT Form (Reports > Financial Management > Period End):