Sage Critical Update Issue

VAT Cash Receipts basis of Accounting

/in ,
VAT Cash Accounting

VAT Cash

The annual VAT cash receipts basis threshold for small and medium enterprises is being increased from €1.25 million to €2 million with effect from 1st May 2014. This change will assist such businesses in the critical area of cash-flow and reduce administration. If you wish to change from the “invoice” basis to “Cash Receipts” basis on your Sage 50 system, you will need to plan it . We have a set of procedures in place to assist in the changeover so that you don’t pay Vat on the double ! Please contact us to discuss your changeover on (071) 9146815.

You might also like
Sage Critical Update IssueGet your Accounting Software SEPA Ready
Sage Critical Update IssueSage 50 – VAT Cash Accounting with Foreign Trader
Sage Critical Update IssueThe end of Windows XP and your Sage Software
Sage Critical Update IssueCountdown to SEPA
Sage Critical Update IssueSage 50 Accounts 2014: VAT Edition
Sage Critical Update IssueSales Orders in Sage 50 Accounts- consolidating multiple orders on one delivery