VAT report - Invoice Accounting (additional Column for Accrual date)

Problem reported by April Loreto 1 month ago

Hi Team,

Good day,

Can you please help us to enable the Accrual Date to be shown in the data generated from VAT report.

Currently it will only shows the Invoice Date- most of our invoices are billed in advance and some purchases billings are received late.

Balance sheet & Income statement are in accrual basis - as per accounting standard of reporting we need to reclassified it properly especially period cut off concerns.

Hoping your assistance on this matter.

Thank you & best regards,

6 Replies

Hi April,

The invoice date is the accrual date in most cases. Furthermore, HMRC require the invoice date for sales to be provided on the report if you are an invoice accounting basis. Unfortunately, it is not possible to change the way the report is generated. I will pass your feedback onto our product team, however.

All the best,

Mohamed.

Hi Mohamed,

Hope the production Team can modified the report ;) , currently we are doing it manually to identity each invoice accrual dates but transactions are getting large it really takes time and possible material error can occur. :(

Really appreciate your consideration on this matter.

Hope to hear from the team soon.

Best regards,

Hi April,

You are more than welcome. This will be looked at and just to ensure that I have given you the right impression, it would be something that is likely long-term if actionable.

All the best,

Mohamed.

Hi Mohamed,

I do understand it and appreciate the team hard-work for improvement.

Before i also requested a modification in Cash Flow report.

Best regards,

Hi April,

You're more than welcome.

All the best,

Mohamed.

Please keep us posted with the production Team feedback.

Thank you :)

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