Olly Balmer's dashboard

My Company ("MyCo") is on the VAT Flat rate invoice-based accounting scheme. ie VAT is chargeable when MyCo invoices for the VATable Supply rather than when MyCo gets paid for the Supply.

Normally we issue invoices for Supplies, and FAC records the date of the VATable supply correctly (date of invoice).

However we took a large number of orders at a craft fair one day shortly before Christmas being paid both on the day and as we delivered the orders in the run up to Xmas.

We banked the money on several days in December (end of our VAT period) and in January.

In FAC these transactions were described as "Other Sales Income" as there were too many orders to manually create invoices for each separate order (sales were recorded on a Spreadsheet instead).

When looking at the VAT returns in FAC I see that only the cash deposits that were banked in December are included on the Oct-Dec VAT return, and those banked in January are included in the Jan-Mar return.

As I understand it, this equates to the "Cash-based" accounting scheme, which is not the scheme that MyCo is registered as.

So, when describing a transaction as "Other Sales Income", FAC should also capture the date of the sale, so that it can apportion the transaction to the appropriate return period depending on the FAC user's VAT settings.