Hiya,

With this recession here in Ireland a prominent thing is people either NOT PAYING / Going bust OR very very late payments.

SO - Very late payment eg Invoice out 12/11/2010 - Eventually get payment 4/5/2011

VAT is done on 6 month cycles. Does SOLAR put this payment in the JAN to JUNE 2011 cycle though invoice raised in previous 6 month cycle? The money received date goes in as 4/5/2011 as per EG above,

Aidan

Hi Aiden,

It depends on whether you have told Solar Accounts to use the 'cash method' for computing your VAT return. To check this setting, click menu Setup > Contact Details & VAT, then look at the 'VAT is Calculated' field. If it says 'VAT is Calculated: When Invoices Are Issued' then the VAT amount will appear on your earlier VAT return. If it says 'VAT is Calculated: When Payments Are Received' then the VAT amount will appear on your later VAT return.

Regards,

Thanks again Mark,

Aidan