switching from accruals to cash basis for VAT

switching from accruals to cash basis for VAT

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Client using quickbooks now in the same year he has changed from accruals to cash basis for VAT.

Is this allowed and secondly sure this will cause havoc in the system VAT reports.

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By carnmores
02nd Jan 2014 20:30

yes its allowed

ther will be a problem if my experience is anything to go by, you will need to dump the first returns out into an excel shhet and match items up

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By Captainblack
02nd Jan 2014 20:59

There is no automated way to do this in QB (or any other system I have seen).

Sorry but the spreadsheet is your assistant here.

Captain

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