VAT

Note: Changes made to this part of the application can signficantly affect your data. If you are unsure, speak to your Accountant first.

AccountsPortal provides comprehensive VAT treatment, and caters for Standard Rate and Flat Rate VAT, as well as Accrual or Cash accounting.

When entering new transactions (such as sales invoices, for example), the system will automatically determine the Organisation's VAT status at the date of the transaction and apply the correct accounting and VAT treatment.