I have a client who is invoice accounting for VAT and has received full payment in advance from a customer right at the end of his Vat Quarter. The sale will take place in the next vat quarter and that is when the sales invoice will be raised.
If I post a payment on account to the debtors ledger, Sage automatically posts it as T9.
However the Tax Point is the date the payment is received so the Vat on needs to be paid over in the earlier Vat Quarter.
How do I include the Vat element on the Vat Return whilst still showing the receipt as a payment on account in the debtors ledger?
Thanks in advance