Switching from Standard Accounting to VAT Cash Accounting

Use the information given here to change your accounting scheme from Standard Accounting to VAT Cash Accounting.

When using the VAT Cash Accounting, you pay and reclaim VAT on actual payments received or issued, as opposed to the Standard VAT scheme where you pay VAT on Invoices and Credits, received or issued.

This procedure should be carried out at a Month End or Quarter End, after reconciling the VAT on Standard Accounting and before entering transactions under the VAT Cash Accounting Scheme.

Related Topics

To Prepare to Switch from Standard Accounting to VAT Cash Accounting

To Switch from Standard Accounting to VAT Cash Accounting

To Reconcile the VAT Return Under VAT Cash Accounting