I truly apologise for the delay in replying and offer my gratitude to Doug for his reply.
How would the scenario work with regard to takings though -
If the original purchase was split as follows as part of the daily takings:
Gross. VAT. Net
£360. £60. £300
...should the £60 become a part of the Net figure when the VAT refund is processed a month later by adjusting the takings split for the day of purchase?
I posted the query on here in order to seek helpful advice from fellow book-keepers prior to speaking to an Accountant.
If the query is seemingly so straightforward, one would surely expect a helpful solution to the query.
I posted the query on here in order to seek helpful advice from fellow book-keepers prior to speaking to an Accountant. If the query is seemingly so straightforward, one would surely expect a helpful solution to the query.
'Expect'
!!
You have had your solution, above.
if you 'expect' further help, then talk like a 'fellow' Accounting professional.
-- Edited by Cheshire on Wednesday 11th of December 2019 08:30:45 AM
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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
