Cash Accounting for VAT

Posted by lfc4eva PM | on Tue, 17/07/2012 - 10:58 399 4 comments | report

We switched to the Cash Accounting scheme a couple of years ago to help with cash flow.

Can anyone tell me on what basis sales should be recorded in the accounts. I am AAT qualified and my understanding was that the general accounting principle was on an accruals basis - does this change because we are using the Cash Accounting scheme?

Thanks in advance.

Jeanette

Comments

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No

twj4789 | Tue, 17/07/2012 - 11:51

So, just for clarification -

lfc4eva | Tue, 17/07/2012 - 12:13

Yes

twj4789 | Tue, 17/07/2012 - 13:06

Thanks. That is exactly what

lfc4eva | Tue, 17/07/2012 - 13:13