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Cash Accounting, what is it and will it work for you?
It's approved by HMRC, benefits cash flow and reduces administration burden, here's why you should be using cash accounting for your VAT returns. Necessary You may have already heard, cash accounting will be the default method of accounting for sole ...
Frequently Asked Questions
Q: Can I use LimeBooks for invoice/accruals basis VAT returns? A: No, LimeBooks is designed for cash accounting VAT returns, suitable for clients with a turnover up to £1.35million Q: How do I cancel my subscription? A: To cancel your subscription ...
Setting up a client on LimeBooks
1) Click on the Agent icon at the top of the screen 2) Click on 'Add a New Client' 3) Fill out your clients details 4)You can now access your clients account by clicking on 'Select A Client'
Set up MTD for VAT on LimeBooks
1) Ensure your client has VAT enabled on there account. You can check this by clicking on 'Business Details' 2) Click on the 'HMRC Connect' Button at the top of the screen 3) Follow the instructions on screen ensuring you enter your Agent services ...
Create a bank account on LimeBooks
1) Click on Bank Accounts at the top of the screen 2) Select the green button on the right hand side ' Add New Bank Account' 3) Fill out your clients bank details 4) Click Save and the bank account will be created