Products - FAQ
Q - What is the difference between the Cash Accounting and Easy Accounting products.
A - The fundamental difference is that the EASY Accounting products record your transactions when you are Invoiced by a supplier and when you raise Sales Invoices to your customers. Whilst the CASH Accounting products record your transactions when you PAY your suppliers invoice and when you RECEIVE money from your customer for a Sales Invoice you have previously raised.
Q - Which is best for me ? Cash Accounting or Easy Accounting.
A - Generally speaking if your turnover is below the VAT threshold [currently £85,000 pa] then the Cash Accounting is almost certainly the best product for you.
Q - I am VAT Registered and using the HMRC Cash Accounting Scheme, is your Cash Accounting product right for me.
A - Yes.
Q - I am VAT Registered and using the Standard VAT Scheme. Which product is the right one for me.
A - The Standard VAT Scheme is based on Invoice Accounting. Therefore you should use our Easy Accounting product.
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