Q: I am having problems regarding VAT when entering the values from the cash book into the sales accounts…_2
7 September 2012
…do I enter the cash sales accounts as zero rated or do I have to work out the VAT and put that into the VAT accounts? What about cash from a client, cheques or vouchers?
…do I enter the cash sales accounts as zero rated or do I have to work out the VAT and put that into the VAT accounts? What about cash from a client, cheques or vouchers?
The first point requiring attention is the category of the cash sales and how they should be treated for VAT purposes. It will be necessary to establish whether they are standard rated,...