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VAT and turnover records review — Accounting and financial-reporting services
A business may want to understand why sales reports, bookkeeping and VAT figures do not agree. Describe the systems and periods involved so the provider can define a record-review task, rather than assuming the word review means a full audit or a tax-clearance certificate.
Service scope
A scoped review of sales records and VAT-related accounting information to identify questions, inconsistencies or further work. It does not automatically constitute a statutory audit, a tax-authority inspection or a certified assurance opinion on turnover.
What is normally included
- Comparison of relevant sales records
- Review of VAT evidence within scope
- Identification of discrepancies and follow-up questions
What is not included
- Automatic assurance over reported turnover
- Guaranteed VAT recovery
- A universal tax treatment for every transaction
Typical tasks
- Define the records and period
- Compare sales and ledger information
- Review supporting VAT documentation
- Identify mismatches for investigation
- Present findings and proposed follow-up scope
What to include in your brief
- Review period
- Sales and accounting systems
- Broad reason for concern
- VAT jurisdiction
- Desired output and deadline
Choosing the right professional
Ask what records will be compared, whether testing is selective or complete and what kind of report will result. Clarify that identifying discrepancies is different from an audit opinion or a guarantee that every tax treatment is correct.
Important considerations
- Different systems may record timing differently
- Incomplete source evidence can limit conclusions
- A review label can be mistaken for formal assurance
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