If you are operating on an 'Accrual' accounting basis and using a separate invoicing solution to generate your invoices, you can set the 'billing date' on your incoming payments so your incoming sales are accurately calculated on your VAT return.
From your Bank Transactions page:
- Enter the customer's name on the incoming transactions
- Categorise the sale appropriately
- Apply the relevant VAT rate
- Press 'Confirm' and this will automatically generate a sales receipt in the incomings section
- To set the billing date so your payment is recorded on the day that the invoice was raised, edit the transaction and press the 'IPAY' Sales Receipt attached:
- Adjust the 'Billing date' from within the Sales Receipt so the date of the payment is recorded on the date the invoice was raised: