Short Answer: Total shows the full sums for VAT / sales tax and Books; Matched shows summed amounts that paired across both sources; Unmatched shows amounts not paired. Difference = VAT / sales tax minus Books.
PreRequisites
- Open the 'VAT / sales tax reconciliation report' page
Steps
-
Locate the three summary cards labeled 'Total', 'Matched' and 'Unmatched' at the top of the report.
You can see VAT / sales tax and Books amounts plus transaction counts on each card. -
Read each card's lines: 'VAT / sales tax', 'Books', and 'Difference'.
Each line shows the amount and the transaction count e.g., '160 transactions'. -
Understand the 'Difference' value is the numeric difference between the VAT / sales tax and Books amounts.
A negative Difference for example -13,055.49 indicates Books total is larger than VAT total by that amount. -
Use the Matched and Unmatched cards to focus investigation: Matched should reconcile to zero difference; Unmatched shows remaining discrepancies.
You can target the Unmatched list to resolve the Difference.
Troubleshooting
- The 'Difference' is not zero and you need to find why.
LikelyCause: There are unmatched transactions or value mismatches between Books and VAT.
Action: Click the 'Unmatched' tab and review the listed entries. Correct the source records books or tax account and run 'Run new reconciliation' again.