5 answers
Hi Michael,
You can’t change Bullet to invoice bases. We only work on a Cash Basis as 99.999% of companies operate on that.
Why do you want to operate on an Invoice Basis?
Cheers
Pete
Hi Pete,
Because my company does work on an Invoice Basis as per our accountants advice and it’s a PITA to change back to a Cash Basis.
One of your support guys said that you could change the basis but the option was currently hidden on the website?
Cheers,
Michael
Hi Michael,
I do pretty much all the support, you don’t know who said that to you?
Tell me this are you a big business, like over 50 staff X Million turnover?
Pete
Hi Pete,
It was a john_bullet on 01/01/15. Here’s the link https://www.bullethq.com/community/question/basis-of-vat-accounting-invoice-or-cash-basis/
Nope, not a large company, nor unfortunately million turnover :(. It’s just what we were advised to do ages ago and we’ve been told that to change would be awkward.
Cheers,
Michael
Hi Michael,
We can change you from Invoice Basis if you want. Just let me know the email address you used to create the account in Bullet and we’ll convert you over.
Again, make sure it’s what you want. You’ll end up paying all your VAT upfront before the cash hits your bank account, months later.
But, maybe that’s what you should be doing for your business.
Cheers
Pete
I'll chase this up with Johnny for today and get back to you.
Just make sure you want to work on an invoice bases. I've never ever in the 4 years we've being doing this year an accountant suggest a small business should operate on an Invoice Basis, it's really hard on Cash Flow.
Might be an idea to call your accountant and double check. If Johnny says it can be done then it can, and your accountant might have some knowledge I don't but 99.999999% of SME's operate on a Cash Basis (i.e. you only pay the VAT when the cash hits your account not from when you invoice (6mts between)).
Pete