Surf Accounts

I think I understand the differences here, but bear with me.

mogilvie wrote:

In Ireland a company can choose to assess VAT on cash/receipts basis, or accrual/invoice basis, and a third method of cash receipts on sales and accruals on purchases.

You can only choose between two methods of reporting, either the cash receipts (also called monies received, based on the date payment is received) or the default Revenue method.

Although the Monies Received method still has accrual method accounting on the purchases side things.

The default Revenue method on sales is an accrual method whereby the date is taken as the invoice date where a sales invoice exists, or the supply date when there is no invoice. With accrual method (date of invoice) on all purchases, because all registered parties must issue an invoice to another registered party.

ThreeGreens wrote: »

That may be true, but that is very different from the basis used for preparing your VAT return. The rules you are quoting are there to avoid people getting paid but failing to issue an invoice and hence delaying the VAT charge while on an accruals basis. They are also there to avoid people not invoicing until they get paid, even when the service has been completed or the goods transferred. They aren't anything to do with the basis for preparing your VAT return.

Surely the date of the VAT being due is important when declaring the VAT return, and which period it gets reported in?