Hi, how can I find out if a partnership is cash accounting or not for VAT? taken on a new client (have to get the vat return done this weekend) and hoping it's a case of getting everything on from the bank statement for their vat return. How can I find out if they are cash accounting or not? is it somewhere obvious that I can look? I will be filing their returns for them as their agent. I have taken over from another bookkeeper so I don't really want to ask the last bookkeeper and the client will not know.
Hi Rachel Why not ask the client? I must admit with my latest client I forgot to include the 'what VAT method are you using' question in my initial discussions, but I did remember on my first day and she advised it was cash accounting. No hesitation in her answer. Whilst there are some who have no idea, many do actually know these things and its a valid question to ask, including of the prior bookkeeper, assuming the client is on good terms. An added bonus if you are able to speak the former bookkeeper and that person is receptive, is that they are around if you get stuck with other things too (as long as you dont mither them of course).
Sometimes another way is the software will tell you - what are you using?
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Thank you very much Rob and JOanne for replying, I couldn't tell from any of the paperwork or the last submitted vat (all the paperwork was given in loose in carrier bags!) so I decided to email the last bookkeeper and she replied straight away.....and told me good luck with that!! ahh sounds like it's going to be a big job!
No problem Rachel. On the basis she replied straight away, sounds like she might help if you get really stuck so thats positive. So - are they cash accounting?
Good luck, keep calm and carry on!
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
