VAT, Tax and Accounting help for small businesses
Cash accounting for VAT and Accrual accounting for VAT. When do you report VAT with accrual method? When do you declare VAT with cash method? You can report your VAT receivable and VAT payable according to two accounting principles or accounting…
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Accrual accounting method is a term that describes how the posting of invoices and journals are done in larger companies (corporations), compared to sole proprietorships which usually applies the cash method of accounting. What is the accrual method of accounting? It is an accounting…
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Difference between Expenditure and Cost. When does an expenditure become a cost? In daily speech, these words are used to mean the same thing, but in accounting, there are important differences between these terms and words. Expense Expenditure: When you purchase…
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Charity donations. Are donations to help organisations eligible for tax relief? Is there a tax deduction for gifts? Are donations from a company deductible? Donations to charity in the USA In the US, you can deduct your contributions only if…
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What is triangulated VAT?, VAT triangulation and middleman in EU trades? What is a VAT triangle? How to account a 3-partner trade? Middleman triangulation with VAT If you are intermediary (middleman) in the triangulated VAT situation, special rules apply for…
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This is how you account your Google AdSense money How to record revenue from Adsense? Want to get a quick answer with practical examples without having to spend time yourself and dig into why you must do exactly as I say in the…
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Accounting, IT, VAT
Sole Proprietorship. What is Sole Proprietorship? What is a Sole Proprietor? The short answer is that a Sole proprietorship is a business form which is owned by a single person – a sole proprietor. This is the Type Of Ownership Suitable For New Businesses…
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Explanation of VAT VAT is a tax imposed on top of the price to the customer. It is similar to the simpler form of sales tax, but with VAT the tax is collected all the way down to the customer,…
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VAT Calculator. How do you calculate VAT backwards? Where can I find Reverse VAT calculator? How to back-calculate VAT? If I know the price in the store how do I calculate the price without VAT? Need a formula for excluding…
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Facebook Ads. Have you purchased ads on Facebook? Do you wonder how to post the cost of Facebook advertising? How do I record the cost of Facebook ads in my accounting software? Here you will find a practical example of how…
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