Internet Business Forums - View Single Post

DavidToohey · 28-08-2007, 04:14 PM

Brian

I know this has been some weeks back... but guessing it is an ongoing problem.

As I am sure you are aware, it is money collected that never hits your P&L so it's not affecting your Profit/Loss. Do you use tools such as a rolling weekly cashflow so that you can see and prepare for this easily?

Otherwise, are your accounts maintained weekly or even monthly? Received regular Management Accounts? Just that looking at your Balance Sheet Regularly you will be able to keep tabs on how the VAT Liability is growing/changing... so long as you do have access to current information.

Hope I'm not telling you how to 'suck eggs'.

28-08-2007, 04:14 PM	#5 (permalink)
DavidToohey Member Join Date: Aug 2007 Location: Poland Posts: 79	Re: How to reduce VAT? Brian I know this has been some weeks back... but guessing it is an ongoing problem. As I am sure you are aware, it is money collected that never hits your P&L so it's not affecting your Profit/Loss. Do you use tools such as a rolling weekly cashflow so that you can see and prepare for this easily? Otherwise, are your accounts maintained weekly or even monthly? Received regular Management Accounts? Just that looking at your Balance Sheet Regularly you will be able to keep tabs on how the VAT Liability is growing/changing... so long as you do have access to current information. Hope I'm not telling you how to 'suck eggs'.