VAT and withholding tax, worked out from your records
Tax rates are applied on invoices and bills, so the figures for a VAT return already exist. Pick the period, check the numbers against your ledger, file and record the payment.
Free to use. No card needed.
VAT return · July to September
| Amount before tax (₦) | VAT 7.5% (₦) | |
|---|---|---|
| Charged on sales | 4,200,000 | 315,000 |
| Paid on purchases | 1,600,000 | 120,000 |
| VAT to pay | 195,000 |
Draft. File it with the authority’s reference, then record the payment from your bank.
Illustration with sample data.
How it works
- 1
Set your rates
Add the rates you use, such as VAT at 7.5%, and apply them to lines on invoices and bills.
- 2
Prepare the return
Choose the period. The return adds up tax charged on sales and tax paid on purchases.
- 3
File and pay
Record the authority’s reference when you file, then record the payment from your bank.
What you get
- Rates you control
- Rates are settings. To change a percentage you add a new rate, so earlier invoices keep the rate they were issued at.
- VAT summary
- Tax charged against tax paid, per rate, with your tax account balances beside it as a check.
- VAT returns
- Draft, file with a reference, record the payment, or reopen if you need to correct it.
- Tax account roll-forward
- Opening balance, tax charged, tax paid and closing balance for any period.
- Withholding tax both ways
- Tax you hold back from suppliers and tax customers hold back from you are both recorded, with schedules and a remittance entry.
Common questions
Does KudiBooks file with the tax authority?
No. It prepares the figures and keeps the record. You file on the authority’s own system and enter the reference.
Does it do company income tax?
Not yet. There is no company income tax worksheet.
Are the rates right for my business?
Rates are what you enter. Have your accountant confirm which apply to you.
Run your business from one place.
Create a free account, tell us what you do, and switch on the tools you need. Bring your finances, clients, people and social accounts together.