CASH vs ACCRUAL VAT Scheme

Problem reported by Paul Paradis 10 years ago

I have just been told that because of my use of Multi Currency I cannot avail of the VAT report using a tax scheme of CASH. So how in God's name am I to complete a CASH VAT return in Ireland if you can't provide me with a report that shows me the VAT breakdown by invoice for payments made in a certain period? I have multiple VAT rates (just 23% and 0%) so I need to know the breakdown by invoice or at the very least customer.

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3 Replies

Hi Paul

Really confused by this, who has told you it can't be done. I and several clients run UK VAT on the cash accounting basis and the reports work fine?

The setup you have in Ireland may of course be different?

10 years ago

Hi Paul, according to Chris, the multi currency facet of our operation (GBP, USD & EUR) interferes with our ability to run VAT cash reports. Doesn't make sense to me either nor have they given me a work around.

Everything was fine up to a month ago or so and then my VAT report starts showing accrual. For the remainder of the year I will pull down various reports and compare period to period in Excel (my solution not theirs) to craft a solution and I have been essentially told to find another platform. That's 5 years loyalty for you. To be fair, ClearBooks has been pretty poor on the multicurrency side of the equation from the start so this move is long overdue.

10 years ago

Hi Paul,

It is not so much the use of multi-currency which is preventing you from using the VAT return tool, it is the fact you are Ireland based and as it has those details in the system the VAT return does not pick up the correct details for non UK based companies. I am sorry about that and any confusion caused.

Chris

10 years ago

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