Free VAT Transaction Log Template
An Excel and CSV starting point for recording transactions and keeping supporting references together.
Free. No email required.
Why proper VAT record-keeping matters
A transaction log helps you organise sales and purchases for review. Keep the supporting invoices, receipts, and any adjustments with your records.
This template is a recording aid. It does not determine the applicable VAT treatment, calculate recoverable input VAT, or establish a filing deadline.
Template columns explained
The columns below describe the information recorded in this template.
| Column | Purpose |
|---|---|
| Transaction Number | Unique ID per transaction (e.g. TXN-001, INV-2026-001). |
| Date | ISO format YYYY-MM-DD (e.g. 2026-04-01). |
| Customer / Supplier TIN | Tax Identification Number of the other party. Record it from the supporting document. |
| Description | Brief but specific description of the good or service supplied. |
| Category | Internal category (e.g. Sales, Expenses, Overhead, Revenue). |
| VAT Classification | One of: Standard 10%, Reduced 5%, Zero-Rated 0%, Exempt. |
| Net Amount (B$) | Pre-VAT amount in Bahamian dollars. |
| VAT Rate (%) | Record the applicable rate from your reviewed records; leave blank for Exempt. |
| VAT Amount (B$) | Record the VAT amount from the supporting document. This template does not calculate VAT. |
| Gross Amount (B$) | Record the gross amount from the supporting document; reconcile it with net and VAT amounts. |
| Direction | Input = purchase (you received an invoice). Output = sale (you issued one). |
How to use this template
Record every transaction
Use a separate row for each transaction and retain a reference to its supporting document.
Retain source documents
Keep the original invoices and receipts that back up each row. The VAT Act sets a minimum retention period of five years.
Understand Input Tax Apportionment
Keep apportionment workings alongside the transaction log. Review recoverability with your practitioner; the spreadsheet alone does not determine it.
Zero-rated ≠ Exempt
Record Zero-Rated and Exempt as distinct categories. Review the treatment of related input VAT separately.
Step-by-step
- 1 Download the Excel or CSV template above.
- 2 Add a new row for every transaction: sales (Output) and purchases (Input).
- 3
Set the VAT Classification column to one of:
Standard 10%,Reduced 5%,Zero-Rated 0%, orExempt. - 4 Fill in Net Amount, VAT Rate, VAT Amount and Gross Amount from the supporting document.
- 5 At period-end, reconcile the log with your supporting records and review adjustments and input VAT recoverability.
- 6 Confirm your applicable filing period and deadline with the Department of Inland Revenue. Keep the completed log with your return-preparation records.
Track this with your CoralLedger Comply review workflow
Explore how CoralLedger Comply supports VAT return preparation. You remain responsible for reviewing your records and filing your return.