Red.com V5.1 Guía de usuario descargar pdf (Pagina 115)

p115

Big Red Book Accounts v5

Vat on Cash Receipts

VAT on Cash Receipts Overview

For the Cash Basis of Accounting for VAT, VAT on Sales is based on Cash Received rather than on Sales

Invoices.

There are two ways in Big Red Book to account for VAT on a Cash Received Basis:

Method 1: Analyse Cash Receipts for VAT when entering transactions

To use this method in Setup / Options select Yes for 'VAT on Cash Receipts ?'

This option is only available when 'Receipts/Payments Manual Allocation ?' is not selected.

This method relies on you to analyse the VAT on Cash Receipts.

When this option is switched on Cash Receipts and Opening Balances already entered will not have been

analysed for VAT. If these transactions are to be include in a VAT Return made on the Cash Basis of

Accounting for VAT they will have to be changed and the VAT Analysis made.

Two additional reports to be available on the Cash Book Reports menu,

Cash Book VAT Details

and

Cash

Book VAT Summary

Cash Book VAT Details report lists entries made in the Cash Receipts Book and shows how each entry was

analysed for VAT purposes. The user will have originally entered gross amounts (including VAT) for each

receipt; this report shows the VAT and Net amounts calculated for each entry. The Cash Book VAT

Summary report produces similar information but lists only Monthly Totals for the period specified.

Method 2: Manual Allocation

To use this method Allocations must be switched on in Setup / Options. It cannot be used with the VAT on

Cash Receipts Option.

When this option is selected VAT on Sales in will be based on the Cash Receipts allocated to sales

transactions.

-o-

1 2 ... 110 111 112 113 114 115 116 117 118 119 120 ... 249 250

Sin comentarios

Red.com V5.1 Guía de usuario Pagina 115