Monthly cash income

Alex1999 · ‎January 27, 2022

Hello there,

I get cash and card income every day from my customers. My card income is automatically logged through QB, so no worries about that.

I was wondering is it OK for me to submit a "Monthly Cash Income" every month instead of recording income every day? - And will this be OK for the taxman?

Best,

Alex

John C · ‎January 28, 2022

Hi Alex1999 It is possible for you to create one large sales receipt for the month for your cash payments within QuickBooks. If the date of all the combined transactions fall within the date up to the date of the sales receipt then se wouldn't imagine there would be an issue with accounting for the VAT in one large amount. We do however recommend that you contact HMRC for further clarification..

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