Just a quick qsn. Help me understand why both cashbook receipts and payments are part of vat input
Just a quick qsn. Help me understand why both cashbook receipts and payments are part of vat input
Receipts are to the extent that they are adjustments of expenses that have not been accounted for in some other way, like supplier credit notes. Off the top of my head refunds from insurers.....
All Outputs should stem from turnover, which is not accounted for via the cash book.
Occasional sale of fixed assets? Suffice to say that a debtor and vat is raised and then the payment received is allocated to an accounts receivable.
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