25 January 2005
QEII Conference Centre, London
Search Page
…the total of the sales day book has been posted incorrectly as £51,010 instead of the correct amount of £50,101 ( ignore VAT)?
Larry Paquette
Amacom, £21.75
2/5
There is no advantage whatsoever as vat is accounted for at the point of purchase and, as a result, stock is dealt with net of VAT.
Harold Lewis
Kogan Page, £25
4/5
2-3 December 2004
Archamps, France
5 October, London
Both vans cost £12,000 plus VAT but the payments are being made via a finance company over a period of three years. Can I offset the input vat for the total amounts through the purchase ledger in the month that the vans were delivered, or do I have to remember to offset the proportion of VAT on the
payments over the next 36 months?
3 November 2004
10 St. James's Square
London
…The credit terms we give are 30 days from the end of month (so invoice date 15/6 is due on 31/7). What sales figure, debtor figure and number of days should I use for the calculation?
Assuming your financial year starts on 1 April and the calculation is made at 31 July, the position is as follows: