Add functionality to Pegasus Opera II & 3 for tax on payments received only
KC Cash Accounting
The KC Cash Accounting software module adds additional functionality to Pegasus ensuring tax is only paid on a VAT return for invoices for which payment has been received – not on those which have been just invoiced.
Tax On Payments Received Software
Kamarin Computer’s cash accounting software helps to improve your cashflow by ensuring that these figures are correctly calculated and that VAT is only paid on money, which has actually been received. This could allow you to benefit from a cash injection which could help to reduce bank charges and lost interest.
Changes in the law which came into effect on 1st April 2007 increased the limit at which companies can submit their VAT return based on payments (and not invoices) from a turnover of £660,000 to £1.35 million (and you can remain on the scheme until you reach a turnover of £1.6 million). For many new companies the scheme not only offers a cash flow benefit but also provides automatic relief from VAT on bad debts without the need to apply for bad debt relief.
- Avoid paying unnecessary tax if your turnover is under £1.35 million
- Line off current transactions using KC Cash Accounting’s own period end routine
- Sales and Purchase VAT values report relevant to allocation transactions
- Enter a VAT rate to be used for calculations on the un-allocated cash report
- Reduce your VAT return
- Avoid bank changes and lost interest
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KC Cash Accounting Fact Sheet
Download the KC Cash Accounting fact sheet to find out more about our solution for Opera II and Opera 3.
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“ I’d been putting off sorting out accounting software for a while, but Kamarin made it really easy, they made an honest recommendation after getting to know my business and helped set everything up. I’d definitely recommend Sage to anyone”
“We’ve found that we’re a lot more efficient than before. We’re saving a lot of time in our finance department with Sage 200. Kamarin were very helpful in guiding us through the process and helping us understand the software”
“All my staff have found Sage really thorough and it’s made their jobs a lot easier, it works seamlessly with the business. Kamarin are always there if we need some help, we feel very well looked after!”
“I spoke to Kamarin and they advised that I start using Pegasus for my business. The Kamarin team were so helpful and knowledgeable, they really helped me understand the software and gave me lots of hands-on guidance in getting my team familiar with it”
“Kamarin really helped me make sense of accounting software and gave me some great packages to choose from, I was advised on the best package for me and the support staff sorted out the installation process. It was very easy and I’d definitely recommend them”