T Thesearcher Registered User Messages 77 16 Nov 2022 #1 Hello, if I'm owed money from a company but they're not paying out until next year is the vat recorded from when the money hits the account or on the invoice from when it is owed? Thanks
Hello, if I'm owed money from a company but they're not paying out until next year is the vat recorded from when the money hits the account or on the invoice from when it is owed? Thanks
R ryaner Registered User Messages 565 16 Nov 2022 #2 It'll depend on how you decided to account for VAT. Smaller traders tend to opt for the money received basis, meaning it is due when you get paid. More https://www.revenue.ie/en/vat/accounting-for-vat/accounting-for-vat-on-moneys-received/index.aspx
It'll depend on how you decided to account for VAT. Smaller traders tend to opt for the money received basis, meaning it is due when you get paid. More https://www.revenue.ie/en/vat/accounting-for-vat/accounting-for-vat-on-moneys-received/index.aspx
T Thesearcher Registered User Messages 77 16 Nov 2022 #3 ryaner said: It'll depend on how you decided to account for VAT. Smaller traders tend to opt for the money received basis, meaning it is due when you get paid. More https://www.revenue.ie/en/vat/accounting-for-vat/accounting-for-vat-on-moneys-received/index.aspx Click to expand... Thanks Ryaner much appreciated
ryaner said: It'll depend on how you decided to account for VAT. Smaller traders tend to opt for the money received basis, meaning it is due when you get paid. More https://www.revenue.ie/en/vat/accounting-for-vat/accounting-for-vat-on-moneys-received/index.aspx Click to expand... Thanks Ryaner much appreciated