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userjames3
January 29, 2021
Question

Does Quickbooks handle Irish VAT "Cash Receipts Basis" correctly?

  • January 29, 2021
  • 7 replies
  • 0 views
Original commenter did not share additional details

7 replies

Adrian_A
Adrian_A
January 29, 2021

Yes. We make sure to track your VAT correctly, userjames3.

 

The system will record what you've entered. Let's make sure to select Cash as your Reporting method. Let me guide you with these steps:

 

Just a heads up, we'll have to ensure that we selected the correct QuickBooks region.

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  1. Click the Taxes tab and then Set up GST.
  2. Select a Start of tax period and a Filing frequency.
  3. Select Cash as your Reporting method.
  4. Enter your Business ID No.
  5. Click Next.
  6. Follow the on-screen instructions to successfully set up VAT.

 

I've also added this article for more information in setting up VAT rates: How do I set up sales GST/VAT rates and use them on forms?

 

Fill me in if there's anything that I can help. Keep safe!

userjames3Author
February 3, 2021

VAT Cash receipts basis in Ireland is 

 

VAT on Sales calculated cash receipts

 

VAT on Purchases is invoice/accrual.

 

A mix of both.

 

I cannot find this option.

RenjolynC
RenjolynC
February 3, 2021

I'll provide details about our concern, userjames3.

 

Combining the cash and accrual methods in a VAT report is currently unavailable. Cash and accrual are two methods of reporting income and expenses. You will have to choose either Cash or Accrual. 

 

You can read this article for more information: Choose between cash and accrual accounting methods in reports.

 

To get both reports, you can select the export to Excel by following these steps:

 

  1. Go to Reports on the left panel.
  2. Type the VAT report you want to run.
  3. Select the Report period and the Accounting method.
  4. Hit the Run report button.
  5. Press the Export icon and select Export to Excel.

Please see this sample screenshot for a visual reference:

 

 

You can also find other articles and guides on our general help topics page here.

 

Please don't hesitate to add another reply below if you still need more help with QuickBooks Online. I'm always here to help. Thanks.

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