It doesn't matter. The system doesn't read the spaces or carriage returns in the code.
This:
Code:
$vbphrase[posts]: $post[posts]
is the same as this:
Code:
$vbphrase[posts]: $post[posts]
and this:
Code:
$vbphrase[posts]:
$post[posts]
I usually do 3 carriage returns and enter the code which a open line above and below so the code is easy to spot if I ever need to modify it. Hope that helps.