The term 'VAT' stands for a Value-added Tax. It is a consumption tax placed on a product whenever a value is added at each stage of the supply chain, from production to the point of sale.
It is very easy to create a VAT Report, follow the steps given below:
1. Go to the 'Reports' on the toolbar and click on it.
2. You will find a list of reports on the left side. Click on 'VAT Report.'
3. Enter the 'Start Date', 'End Date', and then press 'Generate.'
4. You can also 'Print' and 'Export' a report by clicking on them.