UK VAT Sales Register is a ready-to-use excel template to maintain the records of your sales during a specific period along with details of Output VAT collected on those sales.
A sales register records sales and sales return to all the customers of a business. It is also known as a sales ledger. Usually, we record sales transactions. But in this sales register, we record transactions showing VAT computation.
The VAT on sales of goods or services which a business collects is the Output Tax. Whenever you make any sales, you are entitled to collect the VAT on the goods or services you supply.
According to the Record Keeping for VAT Notice 700/21, Point 2.3, it is mandatory for the businesses to keep all your business records. See image below:
You will require this output tax figure at the end of every tax period to calculate the VAT payable amount. You can use our ready-to-use UK VAT Payable Calculator Template.
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UK VAT Sales Register Excel Template
We have created a simple and easy UK VAT Sales Register Excel Template with predefined formulas and formating. You can easily record your VAT sales as well as sales return transactions in it. This template auto-calculates the VAT amount for the given taxable value.
In addition to that, you can also download other UK VAT Templates like UK VAT Debit Note, UK VAT Credit Note, UK VAT Invoice Template, UK VAT Multiple Tax Invoice Template, UK VAT Invoice Template With Discount, and many more from our website.
Let us discuss the contents of the template in detail.
Contents of UK VAT Sales Register Excel Template
Sales Ledger or Sales register consists of the 2 sections: Header Section and Sales Transaction Section.
The header section consists of headings which include your company name, logo, and your VAT number.
This is a monthly sales report. You can record up to 100 transactions in this template. Select the month from the dropdown list and enter the respective year.
Sales Transaction Section
In the Sales Transaction section, you need to record your sales as well as sales return transaction. It consists of the following columns:
Serial Number: The serial number is auto-generated hence you don’t need to make any entry in this column.
Invoice No: Insert the sales invoice or credit note number.
Invoice Date: Enter the date of the invoice.
Customer Name: Enter the name of your client/customer.
Customer’s VAT No: Insert the respective VAT number of your client/customer.
Taxable Amount: Enter the taxable amount of the invoice in this column.
VAT %: Select the VAT % from the dropdown list whichever is applicable 20%, 5%, or 0%.
VAT Amount: This column consists of a predefined formula and hence requires no entry. The VAT amount is calculated using the following formula: Taxable Amount X VAT %.
If you have multiple tax supplies in one invoice, insert the entries separately against the same invoice number.
Final Invoice Amount: Similar to the previous column, this column also consists of a predefined formula. Final Invoice Amount = Taxable Value + VAT Amount.
At the end of the entry section, final column totals are given. The first one is the taxable value, the second one is Total Output Tax, and the third one is the total sales amount including VAT.
There is a provision to enter up to 100 invoices in this template. If you have more than 100 invoices, you can insert additional rows as per your requirement. To maintain records for a longer time, either make a copy of this sheet and you can use it for other tax periods.
This template can be useful to small and medium-sized businesses that don’t use any software for record-keeping.
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