Cash Accounting - VAT and accounts
A question to settle a difference of opinion please.
If a company adopts the cash accounting scheme for VAT, can it also use the cash accounting dates for statutory accounts ?
For example, if a company's financial year end is August, and a sales invoice is raised on 20 August but not paid by the customer until 10 September, for the accounts (as opposed to the VAT Return), does the revenue re that sales invoice go into the year ending that August or the following financial year ?
Sorry to use this forum as a second opinion - I know the answer but a new client of mine disagrees with me, so I would like some other opinions please to show him !
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