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Which report do I use for VAT and bookkeeping?

A routing guide to the right Understory report for VAT returns, reconciliation and month-end accounting — and why two reports can show different totals.

Understory has several reports, and which one you need depends on what your bookkeeper is asking for. This article points you to the right one.

Quick guide

You need…

Use this

Where

VAT per sale, broken down by rate

Bookings Report — order lines

Marketing → Insights → Reports

Every payment, refund and gift card sale, with fees

Transactions Report

Marketing → Insights → Reports

Money actually paid into your bank account

Payout overview

Company Settings → Payment

Outstanding gift card liability

Customer Debt Report

Marketing → Insights → Reports

Automated posting into your accounting system

E-conomic integration

Company Settings → Integrations

There is no VAT column in the Transactions Report

This is the single most common misunderstanding. The Transactions Report is built around money movements, not tax lines. VAT is contained in the difference between totalValue and netPayout, together with the fees — there is no separate VAT or VAT-rate column.

For a VAT return, use the Bookings Report and its order lines instead. If your experiences combine goods or services taxed at different rates, see How to create a ticket with multiple VAT rates and How to Configure VAT Rates.

Why don't my two reports show the same total?

A difference between the Bookings and Transactions totals for the same period is expected, and it is not an error. The two reports count different things:

  • The Bookings Report is organised around the sale — what was booked, and what it was worth.

  • The Transactions Report is organised around the money — when a payment was actually processed, plus refunds and gift card sales as separate rows.

That means a booking made near the end of one period and paid at the start of the next will land in different periods in the two reports. Refunds reduce the Transactions total but do not remove the original booking. Gift cards appear as a transaction when they are sold, and as a booking when they are redeemed.

Still doesn't add up?

If your totals differ in a way this article does not explain, don't spend time trying to reverse-engineer it. Contact us in the chat with:

  • the report period

  • the two figures that disagree

  • which reports they came from

We will look at the underlying data and explain the difference for you.

Did this answer your question? If not, please reach out to us in the chat window at the bottom right, and we'll be happy to help 🤗

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