Hi, a quick question – just completing the TR2 form and I believe that we would be dealing with moneys received basis for accounting – may I ask – is this the default and if not, can it be handled by Bullet or is some special configuration needed?

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Hi, a quick question – just completing the TR2 form and I believe that we would be dealing with moneys received basis for accounting – may I ask – is this the default and if not, can it be handled by Bullet or is some special configuration needed?

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Peter Connor ⋅ Staff September 5, 2016
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Hi. Every small business operates on a money received bases as does Bullet.

#answer-3971
  1. Kdvouch September 5, 2016
    Hi! Thank you for this! I will add it to the TR2.
  2. Peter Connor September 5, 2016
    Invoice basis = your liable for tax the minute you get the invoice
    Cash basis = your liable for tax the minute you get paid for the invoice.
  3. Kdvouch September 5, 2016
    cast basis = money received basis, correct?
  4. Peter Connor September 5, 2016
    That is correct

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