Hi
I've just spent ages putting a sole trader's accounts on to sage V11. He registered for VAt wef 1.2.08 and the first return covers until 29.2.08, but I didn't select the Cash accounting option at the beginning. Can anyone help me rectify this as the return is due at the end of the week and I don't want to mess up what I've done.
Many thank
Carol
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Standard vat to Cash accounting
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brucedenney
- Site Admin
- Posts: 4629
- Joined: 28 Feb 2006, 09:56
- Sage Version: v28 UK/Europe/Africa
Do the VAT return, reconcile the VAT, do your VAT journals and then change the flag. Make sure you have no future dated transactions.
To Change to VAT Cash Accounting
1. Open the Settings and choose Company Preferences.
The Company Preferences window appears.
2. Click the Parameters tab.
The parameters information appears.
3. Select the VAT Cash Accounting check box.
4. To save your changes, click OK.
If you have already entered some transactions, and you were not on the VAT Cash Accounting system, Sage Line 50 does not allow you to change to VAT Cash Accounting until those transactions are reconciled in your VAT Return.
To Change to VAT Cash Accounting
1. Open the Settings and choose Company Preferences.
The Company Preferences window appears.
2. Click the Parameters tab.
The parameters information appears.
3. Select the VAT Cash Accounting check box.
4. To save your changes, click OK.
If you have already entered some transactions, and you were not on the VAT Cash Accounting system, Sage Line 50 does not allow you to change to VAT Cash Accounting until those transactions are reconciled in your VAT Return.
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