Hi,
Wondering if anyone can confirm how to post purchases in a company on Flat Rate VAT cash based accounting.
The company I am working for has purchase invoices for Cash & Carry etc as they are an events company, so some items have 20% VAT and others are zero rated.
They also have Fuel and vehicle repairs invoices.
I'm not sure if i should be posting them with VAT.
There are no books that I have seen that tell you how to deal with companies on a Flat rate VAT cash based accounting.
After June the company will be going onto Standard VAT accounts, but it is March through to May that I need to deal with first.
Any help or advice would be much appreciated.
Kind regards
Tracy