Hi, I wonder if anyone can help me as I've not dealt with this before.
I have a client whose accounts I do annually. They became VAT registered during the 2014/15 tax year, I haven't started yet but I am hoping to use VT for this one.
My question is if the business became vat registered part way through the year how I set this up on VT, is there a place in VT that I can put in the VAT registration date please?
Do their bookkeeping as normal up until the point of VAT registration then tick the box (setup / VAT / VAT registered) which will open up the ability to enter / have calculated VAT from there forwards.
Rather than doing it on the clients books coopy the .vtr file, open that and have a play and you will see what I mean.
I generally keep one dummy sole trader and one dummy limited company .vtr files in my client list to play around with for interesting scenarios where I don't want to end up deleing rows from the clients real.vtr file.
HTH,
Shaun.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Shaun, would it be completely ridiculous to run 2 VT files - one before vat reg and one after then add the together at the end? I'm scared of Cash accounting on VT, let alone just part of the year ekk.
