hello there, I wonder if anyone can help me? my friend has just started a new company and is about to run her first vat return through sage. When she ran the reports she realised that she hadn't opted for cash accounting. My question is how can she change it to cash accounting before she runs the VAT return? Am I right in thinking that once she has run and reconciled the VAT report she wouldn't then be able to change it? Hope i am making sense! Many thanks Nicky
You can't change the VAT method while there are VAT transactions which haven't Ben reconciled for VAT. Two options - 1) start again or 2) run the VAT return, adjust for unpaid VAT using the VCA to Standard reports, delete any future VAT transactions, then change the setting. You would need to check and adjust future returns to make sure you include payments for invoices listed on the VCA reports you generated for the first quarter. Pm me if you need more help - I won't be in the forum for a couple of days
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Sheelagh Lyons Bookkeeping Clarity Making Bookkeeping Clearer
The answers I provide are meant as a general guide only and do not constitute advice.
