Simple Accounting Spreadsheets – The pro’s and con’s of using the Cash Accounting VAT Scheme
April 10th, 2012Many practising accountants recommend the Cash Accounting VAT Scheme. The simple bookkeeping structure and positive cash flow benefits make this an ideal accounting system for many smaller businesses. Using conventional VAT accounting you will pay VAT on any invoices you have issued, even if you have not received the payment, and you reclaim VAT on any invoices you have received, even if you have not yet paid your supplier. The Cash Accounting Scheme differs from this. You [...]
